Chipimo throws out KCM nationalisation

National Restoration Party (NAREP) president Elias Chipimo Junior has cautioned against calls for the nationalisation of KCM as this could only be a plan from the investors to run off from the responsibilities of paying bank loans and other obligatory expenses incurred during recapitalization.

Mr Chipimo said there should be a lot of care in how to handle the case of KCM in responding to the company managing director’s comments regarding capital investments in relations to current profits margins.

“As it is, the company owes money to banks, its owing money to suppliers, its owing money to several individuals.  So if we simply say ‘take over’- government will go in there. Government will now be left with all the liabilities.

So we need to be very careful hat this is not a ploy to move themselves out of the responsibility for paying this thing and leave that asset for government to have to pick up the pieces, let us not make that mistake again,” he said.

He explained that there was need to carry out thorough investigations of everything that has happened in the operations of the mine under the auspices of the multinational corporation.

Mr Chipimo said it was important that if there were criminal activities, they should be unearthed, and that the persons involved be made to take the responsibility of any such actions.

He charged that if indeed there was any corruption, incompetence or acts of tax invasion involved, there should be full recovery of the said monies and persons involved taken to task through the courts of law.

And Mr Chipimo has called on the Zambian people to appreciate the Legacy of Second Republican president Fredrick Chilubafor his strives in reviving the country‘s economic structures when the country was going through strenuous  economic conditions.

Mr Chipimo said president Chiluba was committed to change the structures of the economy and that a lot of development achieved in the country today was as a result of the bold steps he took, particularly through the Structural Adjustment Programmes (SAP).

Speaking when he appeared on Millennium Radio’s ‘the interview program’, Mr Chipimo said Zambians have not done much to acknowledge the former president’s  legacy as a man who believed in the rule of law and who always consulted experts before making any decision.