Thu, 11 Oct 2012 10:58:51 +0000 The decision by the PF government to nationalize Zamtel and the threat to nationalize ZANACO creates room for great concern, the former ruling MMD has said. MMD president Dr Nevers Mumba said great caution should be exercised with regards to issues of nationalization because the decisions may cost the country huge sums of money and would have a negative impact on investor confidence. He said government has also submitted to the Attorney General‘s office a memorandum on how best they can reverse the privatisation of 66 percent shares awarded to a Chinese firm in Mulungushi Textiles. He said while in some cases there may be understandable reasons for some form of review, the manner and economical arguments underpinning this direction are unsound, unsustainable and impractical. Dr Mumba said the PF was currently celebrating and boasting about the successful floating of the Eurobond as it they were singularly responsible for […]
Nationalisation of companies will scare away investors-MMD
