RB consults private sector

President Rupiah Bweza Banda May 11 held a consultative meeting with the Zambia Business Forum on the state of the economy and attending were twelve economic Cabinet Ministers and their permanent secretaries and directors. Others were Bank of Zambia Deputy Governor, Deputy Secretary to the Cabinet, Secretary to the Treasury and other Senior Government Officials. The private sector included Zambia National Farmers Union (ZNFU), Zambia Association of Manufactures (ZAM), Zambia Chamber of Commerce of Small and Medium Business Association (ZCSMBA), Tourism Council of Zambia (TCZ) and Global System for Mobile Association (GSMA).

Among issues discussed included Business Licensing Reforms, Macro-Economic Stability, Economic Stimulus Package, Pending Policies and Bills for Approval
and implementation issues affecting Government.

Submissions by the Zambia Business Forum (ZBF) were welcomed by government which assured the business community that government would take these matter forward.

With regard to Business License Reform, government said that it would table the Eva Jhala Report before parliament for expeditious implementation regarding the reduction of the number of licences impeding the growth of business in the private sector.

And government recognised the high interest and inflation rates prevailing in the economy which was partly caused by the size of the market and dollarisation in the economy. Government said it aimed at bringing down the inflation rate to 10 percent in 2009. Further, government said Bank of Zambia had drafted the Statutory Instrument concerning dollarisation and this would be implemented. Further a credit guarantee scheme would also be implemented through Development Bank of Zambia.

Government also assured the private sector that it would do everything possible to improve on infrastructure development mainly roads, rail and air transport. Further, government invited the private sector to participate actively in the development of infrastructure in areas such as construction of the duo carriage way between Kitwe and chingola, development of the road from Chirundu through Mikango Barracks to Lusaka, creation of tolling roads and rail infrastructure.

Government informed the Zambia Business Forum that the energy sector had been liberalised and invited them to actively participate. Government also revealed they had adopted a new policy on energy in which Biofuel has been recognised as one of the key sectors and a statutory instrument has been issued to that effect.