Mon, 28 Nov 2016 20:10:12 +0000 GOVERNMENT should consider establishing a stabilisation fund account which will keep 10 percent of all revenue generated from the mining sector, Zambia Extractive Initiative Industry (ZEII) secretariat head Siforiano Banda has suggested. Mr Banda said the account was important as it would assist Zambia’s economy in periods when copper prices were low. He explained that such a fund had assisted countries like Chile, one of the major copper producers in the world, in periods when the metal prices were low on the London Metal Exchange (LME). Mr Banda explained that the fund once created would equally assist Zambia’s economy during periods when the copper prices were fluctuating on the market. “When times are bad, that is when the prices are low, they use this fund to stabalise the economy. “Once created, it stabilises the economy as a whole; you will not feel the impact of the fluctuating prices. Even […]
