The Private Sector Development Association (PSDA) has commended mining companies for prioritizing job creation in their quest to make profits.
PSDA chairperson Yusuf Dodia said mining companies should be appreciated for their efforts towards creating jobs for Zambians even as they strive to reap profits from minerals.
Mr. Dodia told ZANIS in an interview in Lusaka today that Zambia should encourage investment in the mining sector because this industry has a lot of opportunities for growth.
He said enhanced investment in this sector would benefit the majority of the Zambian people.
He stated that with mining companies expanding their operations, a lot of local people would get jobs which will consequently help improve their lives and contribute towards the country’s Gross Domestic Product (GDP).
Mr. Dodia has since called for cooperation between government and the private sector to look at ways of building the domestic capacity of the country and ensure that local people continued mining even in the event of foreign owners leaving the country.
Recently, Mopani Copper Mines invested US$27 million to upgrade its cobalt plant which will create and sustain more than 300 jobs for Zambians.
Meanwhile, Mr. Dodia has called for continued monitoring of the inflation rate so as to ensure that it dropped to much lower levels.
Mr. Dodia said it was important that the country continues to drop the inflation rate because this would allow for the effective strengthening of the Kwacha.
He however cautioned that a drop in inflation could also mean the country was not productive.
He has therefore called for increased domestic productivity so that positive inflation benefits can trickle down to the majority of the Zambian people.
Last week, the Central Statistical Office (CSO) announced a drop in annual inflation from 7.3 per cent in December 2012 to 7 per cent in January 2013.
CSO attributed the decrease in inflation mainly to the reduction in some food prices.