President Edger lungu says bilateral partnership and open market to borrow are judicial and they are only done for essential investment reports Vanson Choomba of Chikankata Radio Station.
The President said this when he commissioned the construction of the 750 MW Kafue Gorge Lower Hydro Power Station in Chikankata district of Southern province, the project is estimated to cost two billion United States dollars ($2,000,000,000 )and will create about 5 000 jobs at the peak of the project.
President lungu says there is nothing wrong in borrowing for as long as the money is channeled to the intended project .
“let me remind the nation that through borrowing we as a nation have achieved a lot like the existing power infrastructure at Kariba and Kafue power stations they were financed through borrowing’’
He has also urged all Zambians to be patient in the wake of current power deficits in the country. He says that the PF government is working hard to insure reliable and quality power supply is guaranteed within the possible time.
The President says those who oppose any development from government for the sake of seeking cheap politics gain must know that the PF government have truthful alternatives explanations for them.
“Those opposing essential borrowing like simply wanting to keep people in dark to insure current load-shedding continues to afflict our people and out of that suffering they see a possibility of making political gain ,let me assure them that this is a viable project with assured market for its products.’’
President Lungu says the 750 MW Kafue Gorge Lower Hydro Power Station has come at right time when the country is experiencing power deficit as it will sustain energy security as a nation and it will add a significant amount of power to the grid.
Shameful to have such a leader for our nation. He thinks is doing right when he is just adding problems to our already poverty stricken country. Edgar Lungu should resign to pave way for Hakainde Hichilema who is well prepared to left our living levels. Such statements can come only from a non-committed president. In 2016 we will support and vote for Hakainde Hichilema.
It is not like borrowing beer or drinking on account. KK left us with nkongole and our economy in shumbles, we were one of the highly indebted poor countries.
But, who says there is everything wrong with borrowing? However, borrowing without reasonable means to pay back is unwise and a fraud at the same time! We can’t borrow beyond our means. It is the trade imbalance that is pushing the cost of currency. Let us live within our means!Let us curtail this capital flight. We need to control or stop altogether the externalisation of revenues – only due dividends might be allowed out of the Country. All export proceeds should all come back to the Central Bank before any imports are tolerated!
This man should seek counsel from KK. Kaunda sunk Zambia to the tune of $7billion which we could not repay. Lets try and live within our means. This time around no one will wipe out our debt like during the time of Magande and LPM.