Saturday, February 11, 2006

Agriculture: Zambia's President tells farmers zero rate tax will not help country - lower your prices instead

Zambian President Levy Mwanawasa, has told the country's commercial farmers not to be misled by their leaders over appeals for zero rate tax on agriculture products. The President told them that a zero rate will not help develop the country and would impact negatively on consumers.

Instead, he called upon the Zambia National Farmers Union, (ZNFU) to urge its members to reduce price of their products in view of the continued appreciation of kwacha, which is 3,200 to one U.S. dollar compared with 4,700 to one dollar one year ago.