NO NEED TO RENEGADE ON WINDFALL TAX SAYS OPPOSITION POLITICIAN

An opposition figure in Zambia has demanded for the restoration of windfall tax for the mining sector.

Elias Chipimo, President of the National Restoration Party, says it is unreasonable not to have the tax re-introduced.

The respective tax had been introduced by the previous regime, owing to public pressure, but the same government again reversed the decision in a manner described as an act of renegade.

And the new Patriotic Front government has hinted that it might bring back the windfall tax, but only when the copper prices soar on the global metal market.

But Mr Chipimo says there is no need to wait for the copper prices to increase, adding that there is no need to treat the mining houses with compromise.

He has explained that effecting the tax is the best option because it will only apply when necessary, depending on the obtaining metal prices.

Meanwhile, Mr Chipimo has welcomed the raise in mineral royalty explaining that the Zambian people need to benefit from the country’s resources.