Mwale prods mining firms
Mines Minister Maxwell Mwale has urged mining companies to reorganise themselves and start operating profitably.Mr. Mwale said government will not tolerate any more job losses as a result of the global financial crisis.
He told ZNBC news that every business must have a survival plan and mining companies should have a back-up to mitigate the effects of the global financial crisis.
The minister advised mining companies to do away with unprofitable schemes and put in place measures to increase their productivity.
And Mr. Mwale said Government stands to lose out on millions of kwacha in Pay As you Earn following the job losses in the mining sector.
He said these losses will be beside the Mineral Royalty tax.
Over three thousand people have lost their jobs following the suspension of mining operations at Luanshya Copper mines PLC and Chambeshi metals.
Pay As You Earn is one of Government's largest revenue earner.
The Number of Zambians in formal employment is projected at around 500 thousand.
