Minister of Finance and National Planning Situmbeko Musokotwane of Zambia
Dr Musokotwane said President Banda recently visited Luanshya Mine because the Government was concerned about the job losses.
Musokotwane said the government will instead focus its attention to managing fuel strategic reserves as opposed to running the refinery.
Musokotwane said the government would focus on labor-intensive sectors such as agriculture and manufacturing.
Finance minister Situmbeko MusoKotwane is to start talks with Puku Minerals to order it to restart work at the Luanshya copper mine, on instructions from President Rupiah Banda.
Read Story at BBC News (2006-02-16)Zambia: Musokotwane pledges to ensure economic growths afloat FINANCE and National Planning Minister, Situmbeko Musokotwane has pledged to ensure that Zambias economic growth is not overturned by the prevailing global crisis.
Dr Musokotwane said attracting foreign capital, in the face of the shrinking foreign direct investment (FDI) in the world, was also key to the improvement of Zambias economy.
Zambia to offer more farmlandLUSAKA - Zambia will award farmland to investors in 2009 to improve agricultural production and curb food shortages, the Minister of Finance and National Planning Situmbeko Musokotwane said on Thursday.
Dr Situmbeko Musokotwane said Zambia would grant foreign and local investors land in farm blocs for them to grow more white maize for export to countries in southern Africa.
Dr Musokotwane was speaking during a meeting with the ZNFU at his office in Lusaka yesterday.
Dr Musokotwane said Zambia had plenty of land available and that Government was working on opening up more land for investment.
Dr Musokotwane said he was also happy that the nation was self-sufficient in the production of wheat.
Dr Musokotwane said countries like Argentina, Israel and Brazil were successful because their agricultural sector was export-based.
Dr Musokotwane said it was disappointing that production of some export crops like cotton, tobacco, coffee and horticulture had recorded a downward trend in the past few years.
Musokotwane is from Southern Province in Zimba/Kalomo area.
Fellow Zambians, Dr Musokotwane has merely said what he would like to see happen.
Finance Minister Situmbeko Musokotwane says Zambias Gross Domestic Product (GDP) will slow down next year compared to earlier estimates because of the global economic crisis.
Musokotwane said this is on account of the unexpected slow down in the mining and toursim sectors following the global crunch.
Musokotwane said there is a possibility that the financial crisis may affect the 2009 national budget.
Zambia's Finance Minister Situmbeko Musokotwane said he will raise the issue of a 25 percent windfall tax on copper mine operators in the national budget.
Dr Musokotwane said on the Zambia National Broadcasting Corporation (ZNBC) television programme, "National Watch" monitored yesterday that donors contributed 25 per cent of Zambia's national Budget.
Dr Musokotwane said that because of the global crisis there were fears that donor countries who were most affected would cut their support but most of them had confirmed their contribution.
DONORS have pledged to fulfill their budgetary commitments in next year's Budget despite the global financial crisis, Finance and National Planning Minister, Situmbeko Musokotwane has said.
Dr Musokotwane said on the Zambia.
Musokotwane said that the Zambian Government had decided to attract giant investments from Asia and particularly India, considering its reputation in the IT sector at the global level.
On Saturday, Dr Musokotwane said although the declining prices were a setback for Zambia’s economic growth, there was still hope for improvement.
Situmbeko Musokotwane says increased attraction of foreign direct investments is the best way to get round the global financial crisis.
Deputy Secretary to the Cabinet Situmbeko Musokotwane said Government had put in place the Zambia Development Agency (ZDAA) Act and the Citizens Economic Empowerment (CEEA) Act and that the two instruments were designed to increase the economic performance of all sectors in the country.
Opening a three-day ICT draft bill stakeholders consultative meeting at Mulungushi International Conference Centre in Lusaka yesterday, Dr Musokotwane said ICT would be used as an effective tool for poverty reduction because it had the potential to substantially advance progress towards the attainment of Millennium Development Goals (MDGs.
Dr Musokotwane said the ZDAA and CEEA instruments were designed to increase the economic performance of all sectors in the country but stressed that this would only become a reality if the ICT sector’s legal and regulatory framework was supportive of the broader social and economic policies of Government.
Situmbeko Musokotwane said the seminar is aimed at coming up with measures that will translate into effective use of Public-Private partnerships.
FINANCE and National Planning Minister, Situmbeko Musokotwane has pledged to ensure that Zambias economic growth is not overturned by the prevailing global crisis.
Dr Musokotwane said attracting foreign capital, in the face of the shrinking foreign direct investment (FDI) in the world, was also key to the improvement of Zambias economy and his target was to attract at least US$3 billion in investment annually.
Dr Musokotwane said this in an interview in Lusaka yesterday when asked about his immediate pre-occupation, shortly after being sworn in by President Rupiah Banda at State House.
Dr Musokotwane said Zambia should further sell its investment potential individually because it had several unique advantages and it should therefore not be lumped together with other countries.
Dr Musokotwane said that the investments, both local and foreign, would offset any possible effects of the slump in the global economy and the lowering prices of copper at London Metal Exchange (LME.
Earlier, Dr Musokotwane said the farming sector had a challenge to always produce more for national food security and beyond for the export market.
Dr Musokotwane said the agricultural industry was the engine for the national economy and it should help the Government to continue recording economic gains.
Later, during another meeting with the Zambia Association of Manufacturers (ZAM), Dr Musokotwane said manufacturers should prepare themselves for various investment opportunities but challenged them to adhere to high-class standards.
Situmbeko Musokotwane said the mineral-rich country would grant foreign and local investors land in farm blocs for them to grow more white maize for export to countries in southern Africa.
Speaking at a meeting convened to familiarize with farmers operations, Musokotwane said agriculture provided the best alternative to diversifying the economy away from copper mining, the countrys economic lifeblood.