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Wednesday, February 8, 2023
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HomeBusinessCabinet to discuss high cost of local raw materials for manufacturers

Cabinet to discuss high cost of local raw materials for manufacturers

President HAKAINDE HICHILEMA says it is unacceptable that some local manufacturers promoting value addition are struggling to access raw materials such as Copper due to some conditions set by foreign entities.

President HICHILEMA has further wondered why local companies like ZAMEFA should be made to buy Copper at an international price when the minerals are readily available in the country.

The Head of State says such situations are what cause the cost of production among local manufacturers to be high.

President HICHILEMA says the matter will be tabled in Cabinet and will be addressed as a matter of urgency.

And President HICHILEMA says his focus next year will be to address rigidities that are affecting the growth of the manufacturing sector.

The President said this when he opened the 2022 Zambia Association of Manufacturers -ZAM- Proudly Zambian Expo in Lusaka.

And speaking at the same event, Commerce, Trade and Industry Minister CHIPOKA MULENGA said Government has identified some Zambians to be ambassadors of the Proudly Zambian campaign.

Mr. MULENGA said this is meant to encourage Zambians to consume local products.

President HICHILEMA was also conferred as the first Proudly Zambian Ambassador.

A number of Ministers and business executives from the private sector have also been identified as ambassadors.

At the same event, ZAM President ASHU SAGAR called on Government to reduce the number of regulatory licenses required for business.

Mr. SAGAR said a single licensing system will reduce the bureaucracy that people experience when setting up companies and accessing other Government services.

SourceZNBC
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