Former Commerce Minister Felix Mutati says he is alarmed by the Patriotic Front government’s pledge to bail out mining firms in the wake of a slump in Copper Prices.
Mines Minister Christopher Yaluma told a mining gathering in Perth, Australia that government would consider bailing out mining firms considering the fall in metal prices on the global market.
But Mutati said government should indicate whether the proposed bail out would be through budgetary support or reduced taxation.
“Government should clarify how it will bail out the mines. They should state whether it is through budgetary support or tax exemption,” he said.
“Budgetary support is out of the question I think and when you talk about tax exemption, it is worse because right now the mines are not even paying enough tax taxes. So I am at pains undertanding what the minister is saying. It is alarming.”
Mutati said there should be clarity in the way government handles major issues like mining.
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