Civilised Governments know who their masters are and will thus ensure that those masters are protected by their constitutions. Uncivilised ones want to make it lopsided to serve their foolish and selfish interests.
This is why we need a constitution, how can we be told that the kwacha has taken a walk and will soon come back! This kwacha is on a bungee jump and like that tourist the rope has cut! Who says such a thing about a currency? And where is Alexander Chikwanda in all this? His fiscal policy (taxes and borrowing) is affecting Gondwe with his Monetary policy (inflation and interest rates) and Gondwe is quiet!
Anyway ladies and gentlemen, watch your food bill go up very soon. Those that pay for DSTv, take note your bill this march is ZMW439 from ZMW388 last month, you might even pay ZMW504 next month and ZMW576 by end of May as the Kwacha continues falling against your dollar where DSTv is anchored. How about cooking oil and other foods. The fuel prices will not hold for long, the price per barrel in Kwacha is increasing every day.
Yesterday oil was ZMW590 per barrel crude, today its 610, an increase of 20 kwacha overnight. From the last price increase a barrel has increased from ZMW480 to ZMW610 a difference of 310 or better from ZMW2.40 to ZMW3.05 because Sata and his Government have failed to manage the economy by putting money into roads and buildings that are not multiplying that money. How dull can a Government be?
Here is what is even more scary. Chikwanda has continued borrowing, yet he is not opening up any new money avenues for tax collections purposes.
The eurobond was borrowed when the kwacha was trading at 4.9 meaning we borrowed, 3.675 billion, today if that bond was to be called we would pay 4.575 billion kwacha. As a matter of fact watch the budget for next year and see what your repayments will look like. Ladies and gentlemen, PF has failed.
Yesterday if you wanted to pay for a USD500 car it would have been ZMW2,950 and today you have to pay ZMW3,050. Now imagine the bank tells you that all TTs (telegraphic transfer) are processed the following day, so today the banker checks and tells you you have sufficient funds. By the time the TT is done you are 100 kwacha short and the TT does not go through!
If PF were smart, and they are not, they would have vigourously started pursuing the import substitition policy which they don’t have so that toothpicks, razor blades, needles, face towels name it, can start being manufactured in Zambia and not imported.
But ba Chimbwi No Plan (CNP) are busy carrying vitumwa (black magic) to parliament instead of carrying policies. This PF has failed to do anything for this country, its time Sata dissolves parliament and call for fresh elections so that we can save this country from this quagmire. Ili isabi nalibola, lya ambila ku mutwe (The genesis of a rotten fish is the head!)
Your salary increments are USELESS. That money will be eaten by inflation. Your bank account is afflicted by something worse than HIV, your savings are losing value.
Source: UPND Media
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