ON THE POINT OF IGNORANCE: indeed if one wants black people and Zambians in particular not to discover gold it should be put in the book. How can someone that reads,researches accuse HH OF PRIVATIZATION in MMD ERA.It shows ignorance on part of many Zambians as a result of poor reading culture, people dont want to acquire knowledge but just yapping in order to abuse their mouths.A BRIEF BACKGROUND TO PRIVATIZATION, between 1964 and 1972 our economy was excellent whereby one kwacha was equivalent to one pound not dollar.However, things started changing from 1972 onwards due to oil shocks and fall of copper prices.Oil prices rose by quadruple at international market when our copper prices were just slipping. Since Kaunda had embarked on infrastructure development and was thinking things would be normal without playing with macro economic policies he kept on borrowing. From 1972 to 1989-90 Zambia had accumulated $7.2 billion dollar,seeing that our economy was not doing well the debt became unsustained. No country, bilateral nor multilateral organization was willing to lend us money because we failed to service our foreign debt. This prompted the IMF/ World bank to come in,our government was tasked to restructure our economy if we were to receive or be given any loan.Hence the government embarked on restructuring its economy ( SAPS ) due to pressure from IMF/ World Bank.In the process HH was engaged as a consultant not as a person but his firm.He evaluated the assets of one mine Roan antelope and advised the government on how much it could cost,however, due to lack of negociating skills despite the best advice they failed to negotiate with investors and settled for a song.Then why should we allow ignorance to prevail over knowledge when it comes to PRIVATIZATION, when did consultants/ lawyers started becoming liable for advice because of failure by the client to use it prudently?
Posted on: Thu, 25 Dec 2014 15:01:31 +0000
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