ZAMBIAN GOVERNMENT ADVISED TO CHANNEL THE RESOURCES IN THE FROZEN LAP GREEN NETWORK’S 75 PERCENT IN ZAMTEL TO SOCIAL AND ECONOMIC SECTORS

THE ECONOMIC ASSOCIATION OF ZAMBIA HAS ADVISED GOVERNMENT TO CHANNEL THE RESOURCES IN THE FROZEN LAP GREEN NETWORK’S 75 PERCENT IN ZAMTEL TO SOCIAL AND ECONOMIC SECTORS OF THE COUNTRY.

ECONOMIC ASSOCIATION OF ZAMBIA  EXECUTIVE DIRECTOR ALEXANDER CHILESHE HAS TOLD RADIO PHOENIX THAT THE RESOURCES SHOULD NOT BE LEFT TO BE DORMANT AS DOING SO WILL BE HAVE RIPPLE EFFECT ON THE GENERAL ECONOMY IN THE NEAR FUTURE.

MR CHILESHE SAYS  GOVERNMENT SHOULD CHANNEL THE RESOURCES TO OTHER SECTORS LIKE  AGRICULTURE WHICH EMPLOYS A NUMBER OF ZAMBIANS.

HE SAYS  DOING SO WILL  HELP IN ALLEVIATING AND IMPROVING THE LIVELIHOOD OF ZAMBIANS.

LAST WEEK ZAMTEL MANAGING DIRECTOR HANS PAULSEN ANNOUNCED THAT ZAMBIA HAS FROZEN LAP GREEN NETWORK’S 75 PERCENT SHARES IN ZAMTEL IN CONFORMITY WITH THE INTERNATIONAL COMMUNITY’S DECISION TO FREEZE ALL ASSETS BELONGING TO LIBYA FOLLOWING THE UNREST IN THE ARAB COUNTRY.

THE INTERNATIONAL COMMUNITY HAS BEEN FREEZING SOME LIBYAN ASSETS DOTTED ACROSS THE GLOBE, HOWEVER MR. PAULSEN SAID ZAMTEL WILL NOT BE AFFECTED BY THE NEW DEVELOPMENT AND THERE IS NO NEED FOR CUSTOMERS TO WORRY.

HE SAYS ZAMTEL WILL CONTINUE TO OPERATE NORMALLY AND GOVERNMENT WILL OVERSEE THE AFFAIRS OF THE TELECOMMUNICATIONS COMPANY.

LAP GREEN HELD 75 PERCENT SHARES IN ZAMTEL WHILE THE ZAMBIAN GOVERNMENT IS A MINORITY SHAREHOLDER WITH 25 PERCENT.

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