Cabinet waives duty on copper cathode imports
By Masauso Mkwayaya
Cabinet has approved the suspension of customs duty on copper cathode imports to allow local processors to buy the product at prices lower than those set by the London Metal Exchange -LME.
Chief Government Spokesperson, CORNELIUS MWEETWA says the decision was driven by the fact that local copper processors currently pay the same LME price for copper cathodes as international buyers.
Mr. MWEETWA says this includes additional costs such as inland transportation and security, which are unnecessary for domestic sales.
This resolution was made during the 17th Cabinet meeting, chaired by President HAKAINDE HICHILEMA, on September 19th and 20th, 2024, at State House.
In the same meeting, Mr. MWEETWA says Cabinet also approved the National Budget for 2025.
He says the budget, reflecting the 2025 Estimates of Revenue and Expenditure, aligns with the medium-term strategic focus outlined in the Green Paper on the 2025-2027 Medium-Term Budget Plan, which was approved during the 13th Cabinet meeting on July 12, 2024.
Mr. MWEETWA says cabinet emphasized that the drought and the resumption of external debt payments necessitate the revenue and expenditure measures outlined in the 2025 Budget, aimed at driving economic growth.
He also says Cabinet gave approval in principle to introduce a bill in Parliament to amend the Anti-Corruption Act Number three of 2012.
Mr. MWEETWA, who is also Information and Media Minister, says this amendment seeks to align the Act with the objectives of the National Policy on Anti-Corruption and the Constitution, enhancing the legal framework to combat corruption more effectively.
He says it aims to strengthen penalties, prevention, investigation, and enforcement mechanisms to address corruption and related crimes.
(Image credit Mopani Copper Mines)
