by Zondiwe Mbewe on 24 Mar 2019by Thomas Mulenga on 22 Mar 2019by Sipilisiwe Ncube on 22 Mar 2019by Mirriam Chabala on 22 Mar 2019
- Goal Diggers
by Abraham Kalito on 17 Mar 2019by Abraham Kalito on 14 Mar 2019by Abraham Kalito on 14 Mar 2019by Alex Chilumbwe on 11 Mar 2019
by Stuart Lisulo on 24 Mar 2019by Stuart Lisulo on 22 Mar 2019by Stuart Lisulo on 22 Mar 2019by Stuart Lisulo on 22 Mar 2019
by Zondiwe Mbewe on 22 Mar 2019by Sandra Mulenga on 22 Mar 2019by Sandra Mulenga on 22 Mar 2019by Zondiwe Mbewe on 21 Mar 2019
- Editor's Choice
by Diggers Reporter on 4 Mar 2019by Andyford Mayele Banda on 29 Jan 2019by Davies Mwila on 22 Jan 2019by Diggers Reporter on 17 Jan 2019
by Diggers Editor on 22 Mar 2019by Diggers Editor on 21 Mar 2019by Diggers Editor on 20 Mar 2019by Diggers Editor on 19 Mar 2019
by Zindikilani Banda in Sinda on 20 Mar 2019by John Chola on 20 Mar 2019by Thomas Mulenga on 19 Mar 2019by Joseph Mwenda on 8 Mar 2019
- Guest Diggers
by Sishuwa Sishuwa on 20 Mar 2019by Ompie Nkumbula Liebenthal on 18 Mar 2019by Chisoni Mumba, PhD on 16 Mar 2019by Ompie Nkumbula Liebenthal on 6 Mar 2019
Prof Saasa questions motive behind Indeni saleBy Charles Mafa on 4 Mar 2017
Professor Oliver Saasa has urged government to be cautious and transparent when handling the proposed privatisation of Indeni Petroleum Refinery and TAZAMA.
An investigation has revealed that government will soon privatise Indeni and TAZAMA, a move which experts say would end the importation of crude oil.
Energy minister David Mabumba told Diggers! that government was wasting money by involving itself in the importation of petroleum products.
He added that the private sector would then takeover the procurement function, a modality which has not yet been spelled out.
Finance minister Felix Mutati was hesitant to confirm the planned sale of Indeni and TAZAMA, but said the Ministry of Energy would announce the new policy soon.
Commenting on the revelation, Prof Saasa said as a proponent of privatisation, he believed that the economy could not be driven by government and that it was not the business of government to run businesses, but cautioned that the planned sale of Indeni could be “catastrophic if not well handled”.
“So, if the principle is that of leading to efficiencies, then that will lead to capitalisation. If the result is lowering the cost and to benefit the consumers at the tail-end of the retail chain, then it is welcome,” Prof Saasa said.
He expressed worry that the privatisation process could be done hastily because “certain individuals with political connections” were interested.
Prof Saasa pointed out the need to carry out a detailed assessment of the institution’s value before it was sold.
“It is even worse, in my view, to allow privatisation which is meant to target certain individuals that want to benefit from it, especially if those people are politically connected,” he said.
“While you want get excited about the privatisation itself, then you discover that things which are happening are underhand…”
The professor of economics said the country had many lessons from the past which could guide the planned Indeni privatisation.
He recalled that the privatisation of the mines was shrouded in mischief.
“… if there is a person who can’t learn from their previous mistakes, then they will never learn from anything because we rarely learn from success,” Prof Saasa observed.
“It reminds me of what happened in the past and I would comment on that publicly – the introduction of the bureau de change by [late finance minister] Ronald Penza. He introduces it and the first person who opens a bureau de change was himself. The question is was there self-interest?”
He added that his confidence in the privatisation of Indeni was being dented by stories he was hearing suggesting that foreign companies were receiving government protection in the oil industry.
“I’m hearing stories that do not give me that level of confidence. … stories about protecting certain individual companies which are not even Zambian,” said Prof Saasa.
“You use Zambian companies outsourcing from them. You start wondering, are there some political benefits to particular individuals in this entire process? So until it is transparent, until the whole process is very clear, I would not support it. In other words I would actually go for support of a process of privatisation that is transparent, that is accountable.”2+Related ItemsHeadlines
- When I become President, first order will be to arrest Lungu for theft - CK
- China Harbour sent $299,985 to Chitotela's lawyers - FNB tells court
- 9-year-old narrates how step-father defiled her
- DEC nabs Lusaka accountant for theft of over K500,000
- Witness narrates how Chitotela bought her house using a third party
Subscribe for email alerts
Weekly Most Digged
ArchivesApr0 PostsMay0 PostsJun0 PostsJul0 PostsAug0 PostsSep0 PostsOct0 PostsNov0 PostsDec0 Posts
- March 2019
- February 2019
- January 2019
- December 2018
- November 2018
- October 2018
- September 2018
- August 2018
- July 2018
- June 2018
- May 2018
- April 2018
- March 2018
- February 2018
- January 2018
- December 2017
- November 2017
- October 2017
- September 2017
- August 2017
- July 2017
- June 2017
- May 2017
- April 2017
- March 2017
- February 2017
- January 2017
- December 2016
- November 2016
- October 2016
The News Diggers
Deputy News Editor
Plot No. Lus/9812/649-MC8
off Alex Chola Road
P.O. Box 32147
Telephone or WhatsApp:
+26-097-7708285, 095-3424603, 096-5815078
diggers [at] diggers [dot] news
editor [at] diggers [dot] news
Send this to a friend