Zambia finance minister challenges his predessor not to meddle in the his running the ministry

FINANCE AND NATIONAL PLANNING MINISTER DR SITUMBEKO MUSOKOTWANE HAS CASTIGATED HIS PREDESSOR MR NG’ANDU MAGNADE FOR HIS ALLEGATIONS THAT GOVERNMENT HAS BEEN COMPROMISED BY THE MINING FIRMS OPERATING IN THE COUNTRY.

SPEAKING SHORTLY AFTER THE SIGNING AT HIS OFFICE THIS AFTERNOON, DR MUSOKOTWANE CHARGED THAT IT IS WRONG FOR MR MAGANDE TO BE SPREADING  ASSUMPTIONS THAT GOVERNMENT HAS BEEN BOUGHT BY THE FOREIGN MINING FIRMS OPERATING IN THE COUNTRY.

AND DR MUSOKOTWANE HAS SINCE CHALLENGED MR MAGANDE TO PRODUCE EVIDENCE OF HIS ALLEGATIONS AND FURTHER TAKE THE MATTER TO THE ANTI-CORRUPTION COMMISSION.

MEANWHILE, THE FINANCE AND NATIONAL PLANNING MINISTER HAS INDICATED THAT AS A GOVERNMENT THEY ARE STILL WAITING FOR THE FINAL AUDIT REPORT FROM THE ZAMBIA REVENUE AUTHORITY OVER THE OPERATIONS OF THE MINING INDUSTRY IN THE COUNTRY.

ZRA CONDUCTED A PILOT AUDIT ON MINING FIRMS WHICH COVERED ACTIVITIES  OF THE MOPANI COPPER MINES FROM 2006-2008 INCLUDING TRIAL BALANCES FROM 2003 AND COVERED PRACTICES SUCH AS ALLEGED TRANSFER PRICING, INFLATED OPERATION COSTS, OUTRIGHT UNDER-PRICING OF COPPER EXPORTS AND IRREGULAR HEDGING.

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