Party of National Unity (PNU) leader Highvie Hamududu says there is an urgent need for government to find drastic measures to address the worsening economic situation as well as the deteriorating delivery of public service.
In a statement, said the PF government must not fear but should make bold decisions to stem the negative economic tides of the country’s economy.
“It must now be very clear to government and the country as a whole that the economy is getting bad and that bold and drastic measures need to be undertaken now to avoid further deterioration. The worsening economic situation and the attendant deterioration in public service delivery is an urgent matter, as the situation should not be allowed to deteriorate beyond this. The Patriotic Front government must take a very serious second look at the economy and ask themselves whether they are doing enough to correct the worsening situation. The economy needs substantial injection of fresh money and the government must not fear to make unpopular, but bold decisions to stem the negative economic tide. This is extremely urgent,” Hamududu stated.
Hamududu further stated the need for government to create an enabling environment for the private sector, both local and international to pour fresh money into the economy.
He anticipated that allowing the private sector to invest into the economy could attract at least US$3 billion fresh investment within one fiscal year through public private partnerships.
“Viable options to correct the state of affairs are available. Zambia’s economy is in a very advantageous position for recovery, but bold and unpopular decisions have to be made now while the advantages still exist. We must not make the mistake of our Zimbabwean brothers and sisters who cheered on populist economic decisions until the economy went into a crisis. Our country is a free market economy and we must by now have clearly understood what works for us as we have done it before. Our experience in the economic distress of the 1990s taught us valuable lessons of how to revive a sickening economy, and it is that partnering with the private sector both local and international gives us the best leverage for economic stabilisation and growth,” Hamududu stated.
“So let government create the environment and robust offer for the private sector, both local and international to pour fresh money into the economy. The economy can easily attract at least USD 3 billion fresh money into the economy within this fiscal year through a holistic public private partnerships in all our sectors of the economy. Currently, government has no money, but living on hand to mouth and macroeconomic stability is at the mercy of external factors which if they turned adverse would spell doom of untold consequences on our economy.”
Meanwhile Hamududu noted that the country’s economy was dying from within hence the need to seriously address its challenges.
“The general affinity to national assets as souvenirs and not as a means to practically grow the economy and improve the real welfare of our people must begin to be seriously questioned, as the basis is flawed against empirical evidence. The Patriotic front Government must take the issue of the economy and service delivery seriously. The businesses are feeling the effects of the general macro-economic deterioration and general population is going through biting economic circumstances. The buying power among Zambians is getting too low for their comfort and to support businesses, and the attendant employment creation drive. Simply put the economy is dying from within,” said Hamududu.
“No money in people’s pockets and cash strapped businesses has become the order of the day. To make matters worse, we have a serious partial drought this year resulting in massive crop failure. The economy needs a well crafted, robust and holistic stimulus package through, firstly injection of fresh money, secondly improved service delivery and thirdly holistic and practical inclusiveness.”