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The maize grain is hidden somewhere – Miles Sampa

Filed under: Breaking News,Business |
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The maize grain is being hidden somewhere, Finance Deputy Minister Miles Sampa has claimed.

Commenting on the mealie meal shortages in the country that has resulted into high prices of the commodity, Sampa said the shortages were artificial.

“These shortages are artificial, the maize is being hidden somewhere,” said Sampa when he featured on ZNBC Sunday Interview on March 31, 2013.

Sampa also said the people were holding on foreign exchange saying the depreciation was also artificial. He said there was alot of exports and wondered why the kwacha has continued to depreciate.

He explained that people were holding the money and later sell it to make profits a situation that he says government is addressing.

The Deputy Minister says the Kwacha should trade at KR4.80 and st most must be at KR5.0. He says the interest rates and inflation were low and the economy was growing.

He warned that those holding the foreign exchange will one day woke up to find that the Kwacha had appreciated. Sampa said someone was benefiting from the depreciation of the kwacha.

Sampa who is also PF Member of Parliament for Matero constituency in Lusaka and neiphew to President Michael Sata explained that the International Community were happy with the good governance by the current regime. He further charged that the government will tie all the loopholes where money is being misused and plough it into the economy.

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