By CHARLES MUSONDAGOVERNMENT’s decision to reinstate value added tax and customs and excise duty on fuel is a clear indication that the International Monetary Fund (IMF) $1.3 billion bailout to Zambia is not helping but killing the country’s economy, the Leadership Movement (LM) says.In an interview, LM president Dr. Richard Silumbe said it was an economic mistake from government to remove subsidies on fuel, a commodity whose price is unstable as it was always rising because of the instability in Europe and other factors.Dr. Silumbe said a responsible government would always cushion its citizens’ economic difficulties so that the cost of production could always be lower as they adapted to new economic challenges.He said the idea of removing subsidies and start taxing the fuel supply system would always result in fuel price increase and that in the end, the country would experience low productivity because of the difficulties people would face, especially those in the […]
IMF deal killing Zambia – Silumbe
