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The Democratic Progressive Party (DPP) claims that Zambia is losing a too much money through corruption, tax evasion, and tax avoidance to fully subsidize fuel and electricity and fund quality education for every child.
DPP president, Antonio Mwanza, cited reports from the Financial Intelligence Centre (FIC), Public Accounts Committee, and Auditor General’s Office, which he said consistently highlight billions of US dollars lost annually due to illicit financial flows.
“Last year alone, the FIC reported receiving nearly 700 reports of illicit financial activities, totaling over $3 billion,” Mwanza said in a statement issued on Wednesday.
He added that Zambia lost an estimated $3 billion to illicit financial flows in the past nine months, with the FIC reporting 450 cases of illicit transactions worth over $2.8 billion in the final quarter of 2023 alone.
Mwanza further pointed to the Zambia Revenue Authority’s (ZRA) revelation that only six out of over 6,000 licensed mining entities had remitted taxes, describing this as an example of the billions lost annually from uncollected revenues.
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“Our problem as a country is a leadership problem, not a money problem. With all the natural resources we have, it is unacceptable for our people to suffer like this,” Mwanza stated.
He reiterated his commitment to subsidizing fuel and electricity if elected into government.
Mwanza proposed raising funds from mining and other sectors, such as agriculture, tourism, manufacturing, forestry, and wildlife, while closing loopholes in tax evasion and corruption.
“High fuel and electricity prices have created significant challenges for the economy by increasing costs across multiple sectors, reducing disposable income, and dampening economic growth,” he added.
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