Saving the economy


Epictetus, a wise philosopher has said that it’s not what happens to you, but how you react to it that matters.

He added that difficulties are the things that show a person what they are.

Equally James P. Kreble has opined “Inevitably, if we are to grow and change as adults, we must gradually learn to confront the challenges, paradoxes, problems and painful reality of an insecure world.”

The wise men seem to have had Zambia’s current economic woes in mind.

The slide of the Kwacha against the Dollar and other major currencies was inevitable.

The volatility of the Chinese economy a major consumer of our copper was bound to affect our economy adversely and worse effects are yet to be experienced.

Zambia is among the many countries that depend on China. Other includes South Africa and Zimbabwe, all of which have suffered serious currency decline in addition to a reduced growth projection in tandem with what is happening in China.

Equally our energy crisis was the inevitable sequel or development from the drought and poor rainfall pattern that has afflicted the sub region and many parts of the world. 

We can mourn about these developments but ultimately the answer will depend on how we respond to them and mitigate the immediate impact and chart a sustainable path.

The first and most important practical step is to implement measures that will ensure sustainability through good governance planning and long term evaluation.  It requires that all the available technical human capital is employed to examine the immediate micro and macro challenges through clearly articulated bench marks and ultimate goal. 

As regards our major power utility Zesco, the challenges are immense but these will hardly be attained without the appropriate institutional structures to provide supervision guidance and regular evaluation.

The absence of a aboard of directors at Zesco is a major fault that will short circuit and therefore frustrate the tasks that President Edgar Lungu has assigned for the organization.

Our energy deficit has very immediate bearing on the performance of the economy. 

It is therefore important that those charged with the responsibility must exercise diligence and dedication with a passion for the task.

A carefully chosen board of experts and business managers must now navigate through the medium and long term plans which include import of power establishment of cost effective tariffs and implementation of mitigatory business plans that will ensure that the utility not only survives but is able to produce enough power for the lucrative export market.

We have the resource the personnel and indeed ability to harness all our natural energy sources that God has so graciously bequeathed us and failure to respond to the circumstances that have confronted us will be folly for which future generations will not forgive us.


Categorized | Editorial

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