Economic expert Kelvin Chisanga has advised the government to engage key financial stakeholders for broader consultations following its decision to suspend export duty on precious stones and metals, reducing it from 15% to zero.
Mr. Chisanga emphasized the need to develop a well-structured model that ensures substantial benefits for the mining sector, despite the depreciating value of the local currency.
Speaking in an interview with RCV News in Lusaka, he urged the government to clarify how sales value and export volumes will be managed from a revenue-generation perspective.
“This policy could potentially reduce tax income and government revenue, making it crucial to safeguard the tax framework to ensure its sustainability,” said Mr. Chisanga.
Mr. Chisanga further stressed the importance of promoting local auctions for precious minerals, which would allow more Zambians to benefit from the trade and strengthen the domestic market.
By Cynthia Lupiya.
