Swindleco’ by another name

The introduction of the new look Industrial Development Corporation (IDC) (formerly Indeco) is nothing but a scheme to siphon public money, says political activist Dante Saunders.
Saunders said the PF government could not be trusted with public institutions and resources because it had proved beyond doubt that it was corrupt.
He cited the recent IMF report which noted deterioration in financial integrity revealed by single sourcing of large projects.
“This INDECO the PF is planning to bring back is actually ‘swindleco’ because they will use it to swindle and siphon public money for their own personal and partisan activities. This will not create genuine jobs but could be another means of creating jobs for relatives and cadres, I am urging our civil servants to document all the corruption cases being committed by the PF and its leadership so that come 2016, they will have to start defending themselves in courts,’ he said.
Saunders said with the high levels of corruption and misapplication of resources revealed by the latest Auditor General report, it was more likely that IDC would be used as a conduit by the PF to siphon money.
He told the Daily Nation that it was bad corporate governance for the President to appoint himself chairman of the board of IDC, thereby shielding the institution from normal oversight.
Saunders said the PF was spending a lot of its time scheming how best it could defraud Zambians and that was why it had turned to socialist ideas of UNIP that had completely fractured the country’s economy.
He said the PF government had no capacity to run an institution like IDC which was intended to create more employment for his cadres and relatives after having failed to do the same for the many unemployed youths.
Saunders called on the general citizenry to resist the creation of a body that had failed to work during the one party state.
He has called on Zambians particularly the civil servants to document all the corruption cases the PF and its leadership were committing so that as soon as the new government was put in office in 2016, the culprits faced the law.