THE Zambia Association of Manufacturers (ZAM) says the 0.5 percent increase in Value Added Tax (VAT) from 16 percent to 16.5 percent may increase prices of commodities by three percent. ZAM president Mohammed Umar adds that the 50 percent suspension of customs duty on imported raw materials and inputs that are not locally available, as opposed to the earlier 100 percent suspension, has reduced the manufacturing sector’s contribution to GDP. Speaking during the 2027 National Budget Symposium, Monday, Umar said government should consider linking the 0.5 percent VAT increase to VAT refunds for manufacturers. “We understand that we have attained stability and as we go for growth, we need to ensure that we maintain our stability, and we do appreciate...