David Panabantu reckons that he has stumbled on something regarding the DAs that has not crossed anybody's mind. I have always said there's a thin line between poor analytical thought and intellectual dishonesty. I think he has just crossed it, though am not sure from which way:
Naturally, the move in this year's 2008 budget undermines the entire DAs between
the Zambian Government and the mining companies. But the unknown economic and political risk of altering DAs need not be encountered, as Zambia can still benefit from the DAs.
The current legislative practice that is outside the DAs, is that exporters can have 100 per cent direct foreign currency retention of their proceeds according to the directive of the BoZ and not the DAs. There is nothing alarming about remitting foreign currency as all Zambians can do it, but how it is done is defined by the BoZ and not DAs. The DAs do not outline the process how those proceeds are to be remitted, only that the mining companies have to have free and unlimited access to the foreign currency.
Read the complete post at http://www.memeza.com/story.php?title=Intellectual_dishonesty_or_simply_poor_analysis
Posted
Mar 29 2008, 05:11 AM
by
memeza / Zambian News