WHY MY PROPOSAL FOR CURRENCY CHANGE-OVER MAKES SENSEDear Editor,FIC has informed the nation that K8.6 billion was withdrawn from banks and only K0.1 billion was re-deposited. FIC says about K8.5 billion is missing from circulation.Since the total cash in circulation is about K106 billion, this means about eight percent of Kwacha is missing from circulation, thereby adversely affecting the economy.The missing Kwacha could have been stolen or misappropriated. Whatever the reason, the onus is on the security agencies to prove that the persons who withdrew the cash or are in custody of it are guilty of an offence.The onus is not on the persons who withdrew or are in custody of the cash to prove that they are guilty. The right of innocence until proven guilty by the accuser is Constitutional.Proving persons guilty is a very difficult job, especially if the accused have access to big money, and therefore, good lawyers. That’s why prisons are […]
WHY MY PROPOSAL FOR CURRENCY CHANGE-OVER MAKES SENSE
