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Cabinet has approved various laws, among them the issuance of a Statutory Instrument (SI) to suspend customs and excise duties charged on importation of construction materials.
The Customs and Excise (Suspension) (Construction Materials) (Public-Private Partnership) Regulations, 2023 is for importation of construction materials under the Public Private Partnership projects (PPPs).
Makozo Chikote, acting Information and Media Minister, announced on Wednesday in a statement that 8th cabinet meeting presided by President Hakainde Hichilema deliberated on a number of issues.
On the Customs and Excise Regulations, 2023, Chikote said it was meant to attract more investment in PPP projects and reduce government expenditure on capital projects such as roads construction.
“The decision by Cabinet is in line with the provisions in the 2023 Budget which has introduced tax incentives aimed at encouraging investment in PPP infrastructure projects.
“The tax incentives include reduced income tax rate; value added tax and customs duty exemption on plant, machinery and equipment,” he stated.
Chikote said cabinet also approved in principle, to introduce a Bill in Parliament to amend the Cotton Act of 2005 to enhance the regulation of the cotton industry; broaden the mandate of the Cotton Board of Zambia (CBZ).
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The Customs and Excise (Suspension) (Construction Materials) (Public-Private Partnership) Regulations, 2023 is for importation of construction materials under the Public Private Partnership projects (PPPs).
Makozo Chikote, acting Information and Media Minister, announced on Wednesday in a statement that 8th cabinet meeting presided by President Hakainde Hichilema deliberated on a number of issues.
On the Customs and Excise Regulations, 2023, Chikote said it was meant to attract more investment in PPP projects and reduce government expenditure on capital projects such as roads construction.
“The decision by Cabinet is in line with the provisions in the 2023 Budget which has introduced tax incentives aimed at encouraging investment in PPP infrastructure projects.
“The tax incentives include reduced income tax rate; value added tax and customs duty exemption on plant, machinery and equipment,” he stated.
Chikote said cabinet also approved in principle, to introduce a Bill in Parliament to amend the Cotton Act of 2005 to enhance the regulation of the cotton industry; broaden the mandate of the Cotton Board of Zambia (CBZ).
He said this was also meant to address existing gaps in the current law and introduce sufficient provisions for the regulation of the entire cotton value chain in line with international best practices.
“The 2005 Act also established the Cotton Board of Zambia (CBZ) to regulate the production, ginning and marketing of seed cotton, set standards relating to the quality of the cotton crop in the field, seed cotton, cotton seed and lint.
“The CBZ has also the responsibility of advising government on regulations, policies and measures pertaining to the protection, control, promotion and development of the cotton industry,” Chikote said.
Cabinet also approved in principle, to introduce a Bill in Parliament to repeal the Agriculture (Fertilizer and Feed) Act No. 51 of 1966 (Cap 266) of the Laws of Zambia.
According to Chikote, this was meant to address gaps in the current law and provide for the development of new regulations aimed at enhancing the management of the fertilizer industry in Zambia.
“At the time of enactment of the current law, the fertilizer industry was State owned and run. However, following the liberalisation of the economy in 1991, a number of private sector and Non-State Actors have joined the industry.
“The multiplicity of players in the fertilizer sector coupled with technological advances has, brought about a variety of fertilizer types that were not available when the law was passed,” he said.
It is envisaged, therefore, that the new Act will result in increased private sector participation in the fertilizer supply chain across the country and make Zambia a fertiliser producer and supplier within the region and beyond.
He said this was also meant to address existing gaps in the current law and introduce sufficient provisions for the regulation of the entire cotton value chain in line with international best practices.
“The 2005 Act also established the Cotton Board of Zambia (CBZ) to regulate the production, ginning and marketing of seed cotton, set standards relating to the quality of the cotton crop in the field, seed cotton, cotton seed and lint.
“The CBZ has also the responsibility of advising government on regulations, policies and measures pertaining to the protection, control, promotion and development of the cotton industry,” Chikote said.
Cabinet also approved in principle, to introduce a Bill in Parliament to repeal the Agriculture (Fertilizer and Feed) Act No. 51 of 1966 (Cap 266) of the Laws of Zambia.
According to Chikote, this was meant to address gaps in the current law and provide for the development of new regulations aimed at enhancing the management of the fertilizer industry in Zambia.
“At the time of enactment of the current law, the fertilizer industry was State owned and run. However, following the liberalisation of the economy in 1991, a number of private sector and Non-State Actors have joined the industry.
“The multiplicity of players in the fertilizer sector coupled with technological advances has, brought about a variety of fertilizer types that were not available when the law was passed,” he said.
It is envisaged, therefore, that the new Act will result in increased private sector participation in the fertilizer supply chain across the country and make Zambia a fertiliser producer and supplier within the region and beyond.
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