Friday, 19 April 2013

Zambia's veep reports zambia sugar plc to the zambia competition commission for using their monopoly to overprice their products.



Republican Vice-President Dr Guy Scott Has Reported Zambia Sugar Plc To The Zambia Competition Commission For Using Their Monopoly To Overprice Their Product.

And Dr Scott Says Government Needs To Enforce Regulation On The Mining Operations In The Country To Curb Vices Such As Tax Evasion And Ensure That People Get A Fair Share From Their Natural Resources.
A Recent Report By A Non-Governmental Organization Action Aid Entitled Sweet Nothings: Claims That Zambia Sugar Plc, A Company In The Illovo Sugar Group, Which Was Bought In 2007 By Associated British Foods, Uses Tax-Haven Sister Companies In Ireland, Mauritius And The Netherlands To Minimize Tax And Has In The Process Prevented Zambia From Collecting 27-Million United States Dollars In Tax Revenue.
However, In A Recent Interview Dr Scott Said Although He Does Not Concur With The Allegations Of Tax-Evasion Against Zambia Sugar, He Believes The Company Is Guilty Of Using Their Monopoly To Overprice Their Sugar Products, A Matter He Says He Has Since Reported To The Competition Regulator, The Zambia Competition Commission.
And Reacting To Recent Protestations In South Africa’s Business Day Newspaper On The Decision By Government To Ban Foreign Sales Of Local Gemstones, With Some Analysts Like David Gleason Accusing Government Of Returning To Dr Kenneth Kaunda’s Era Of Nationalizing Mines In The Story Headlined “Cut From The Same Kaundan Cloth”, Dr Scott Said Gleason Should Acknowledge That There Have Been Massive Rip-Offs By Foreign Mining Companies Of The Profits They Were Making From Africa’s Resources.
Dr Scott Said What Was Needed World Over Was Not Necessarily Public Ownership, But Regulation In Order To Curb Cheating And Ensure That People Got A Fair Share From Their Resources.
He Said Kagem Could Not Claim Innocence Because That Was Not Obvious To Everybody.
On The Issue Of Job Creation In The Country, Dr Scott Said The Government Has Embarked On Ambitious Programmes In Infrastructural Development In Form Of Roads, Housing, Recruitment  Of People Into Jobs And Resuscitation Of Neglected Industries Such As Rail Transportation.
He Said He Was Confident That The Over Seven Percent Growth Target For 2013 Would Be Attained Mainly As A Result Of The Capital-Intensive Projects In Mining.

No comments:

Post a comment