Find us on Google+

Thursday, 9 February 2012

Another Poor Statement

The error prone Mines Minister Simuusa made a rather elementary mistake here when he suggested that the fiscal regime could revised. Now he appears not to understand the windfall tax - as demonstrated by his statement below from the sidelines of the Mining Indaba : 
"For the whole of this year windfall tax will not come up unless prices go up to the region of $10,000 per tonne...The projections are that it will hit $10,000 and at that time we may sit around the table. If the prices hit those ranges it is only logical that we talk"
Do you really have to be a genius to know that the windfall tax appropriately designed should automatically adjust? So waiting to implement one when the prices are high is rather misguided to say the least. 


  1. :) i can just smile, not only about the statement but also about the fact that most people have read it some time ago and very few have seen the absurdity of the statement

    1. Its a lack of critical thinking! lol!

    2. Lack of maths skills more likely. Why is it so hard to understand incremental taxation? It is how progressive taxation works.

  2. It is another indicator that maybe our cabinet rarely meets to discuss policy issues - there are many contradictory statements coming out of our governments. This shows that although the Minister of Finance said windfall tax is not necessary, the mines minister disagreed with him and now he is making his own statement. I understand that the PF policy is to work with Royalty tax rather than windfall tax - so why would the mines minister say something like this? Chola I agree with you lack of critical thinking - and no lol!!

  3. Iam meant to believe that Mr Samusa is a mining engineer, been a top executive manager and is now a Minister. is he not the same guy who issued political instructions to ZCCM(IH)to give him a report on monies he dreamt had gone missing, he wanted the report like in a very short & unreasonable time, practically not possible when the same could only be sanctioned by the Board to my understanding... this coming from a former senior corporate executive looked embarassing especially that their are very senior govt chaps like P.S's sitting on the company's board.He has no clue how the corporate world operates.. I doubt if he got his report ....and now this windfall tax issue is too much off the mark !

  4. This comment has been removed by the author.

  5. This lack of quality institutional governance and the general lack of any undertanding of simple policy instruments or how to manage anything, testament to a lack of real interest, is such a brake on development, it cannot be underestimated. Man, which company hired this guy as top executive manager. I bet they went out of business.....


All contributors should follow the basic principles of a productive dialogue: communicate their perspective, ask, comment, respond,and share information and knowledge, but do all this with a positive approach.

This is a friendly website. However, if you feel compelled to comment 'anonymously', you are strongly encouraged to state your location / adopt a unique nick name so that other commentators/readers do not confuse your comments with other individuals also commenting anonymously.