Local News

‘Bring back externalised funds’

By SILUMESI MALUMO

PEOPLE who have externalised funds in offshore accounts must retrieve them and invest in the country to improve the economy, the Christian Democratic Party (CDP) has said.

CDP president, Danny Pule, said those who had externalised funds did not have heart for the people because they were enriching other countries at the expense of their own.

Dr Pule, who is also former Finance Deputy Minister, wondered how some individuals and companies could take the money out of the country which was needed to improve the economy.

He said in an interview yesterday that those who had their money in offshore accounts must re-think and retrieve it so that people of Zambia could benefit.

“Those people who have externalised money into foreign banks don’t have the interest of the country at heart, if they like this country they should invest here, they should keep money in Zambian banks.

“They is no requirement that any company to succeed they should bank in the foreign country. And the other thing is that Government must investigate them to find out whether they actually paid tax,” he said.

He said it was wrong especially for companies which were getting money from the Zambians to invest it in foreign countries.

“Some people and companies can invest in foreign countries in order to evade tax. So if they are involved in such Government must ensure that they charge them for evading tax,” Dr Pule said.

He said that there was need for people to show confidence in the domestic economy and invest their money in the country.

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