THE rise in copper prices on the international markets in recent weeks will greatly help revamp the nmining industry and save jobs in the sector, says the Private Sector and Development Association (PSDA) chairperson Yusuf Dodia.
Mr Dodia said in return the mining industry would also buy more goods from local suppliers which will improve the domestic economy.
In an interview, Mr Dodia said that the continued rise in copper prices would not only revamp the industry but also save jobs in the mines.
“With rising copper prices, many mining firms will buy more good from local suppliers which will improve the domestic economy,
“The real benefit of increased copper prices can only be enjoyed by Zambia when export earnings are brought to the country so that the country’s economy can benefit from the funds,” he said.
He said bringing back export earnings into Zambia could ensure that more Zambians borrowed locally to build and expand their businesses.
He said Government would also be able to generate more revenue once the copper price continued to rise on the international markets.
“An increase of copper price on the international market means that the industry in Zambia will be encouraged to continue to grow,
Meanwhile, Mr Dodia acknowledged Governments efforts in encouraging the private sector to expand their businesses by stimulating investment opportunities.
“I think planning is done by the private sector because Government stimulates investment; Government has done a lot in that direction it’s a question of encouraging the private sector to expand their businesses given that the copper prices are improving,” he said.