By KENNEDY MUPESENI –
THE Association of Mine Suppliers and Contractors (AMSC) is expectant that the new Finance Minister Margaret Mwanakatwe will push for debt dismantling and Value Added Tax (VAT) refunds to stabilise the economy.
Commenting on the Cabinet reshuffles made by President Edgar Lungu last week,  AMSC president Augustine Mubanga said economic stakeholders’ expectations from Ms  Mwanakatwe were high.
Mr Mubanga said there had been a lot of demand on taxes for businesses, and especially the pressure that the Zambia Revenue Authority (ZRA) was putting on Small and Medium Enterprises (SMEs) , it will not be progressive if companies started closing down.
He observed that since the tax amnesty was given, there has never been a road map on how  VAT would be repaid  hence the need for Ms Mwanakatwe to look into that as she settles down.
He said VAT output was being withheld at the source so the Minister of Finance should ensure that the local debt which stands at K9 billion is liquidated to boost activities in the economy.
“The starting point for Ms Mwanakatwe is to look at import VAT, refunds to local companies. The VAT refund will create liquidity in the economy so there is need to ensure that refunds are made to support the economy.
On mining,  Mr Mubanga who described the appointment of Mines Minister Richard  Musukwa as well deserved, said stakeholders expected him to engage stakeholders and the mining houses on the need to strengthen business linkages in the sector’s value chain.
“There is need to engage mines on late payments which is taking between 120 to 180 days to be paid, that is not good enough.
“SMEs have little capital, they need to be assisted to grow hence the need for the Minister who is not strange to the Copperbelt Province to engage stakeholders and mines to start adhering  to terms of payment which we think should be 30 days,”  he said.
President  Lungu last week made reshuffles in Cabinet as well as at permanent secretary levels which saw Felix Mutati moved to Works and Supply and Ms Mwanakatwe  taking over Finance  portfolio  from Commerce ,Trade and Industry.
Christopher Yaluma was moved from Mines and Mineral Development Ministry to Commerce, Trade and Industry with Mr Musukwa becoming the new Mines and Mineral Development Minister.