Mon, 30 Nov -0001 00:00:00 +0000 By BUUMBA CHIMBULU AN outcry by mining companies and other stakeholders yesterday compelled Government to remove the 7.5 percent duty slapped on imported copper concentrates as proposed in the 2017 national Budget. The decision to zero rate the imported copper concentrates was arrived at after an elaborate consultative process with the Parliamentary Estimates Committee where the mines complained that the proposal would disrupt the operations of copper smelters in the country. According to Ministry of Finance head of media and public relations, Chileshe Kandeta, the estimated K500 million, which was expected to be raised from the importation of copper concentrates in 2017, would be compensated. Mr Kandeta explained that the money would be recovered and possibly surpassed through the dividends which Government was expected to receive from the mines. “The measure by the Government through Parliament, first and foremost, warrants the protection of jobs and, secondly, strengthens the […]
