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MATERO Member of Parilament and deputy minister of Finnace Miles Sampa speaking during a Council meeting at Lusaka City Chambers

MATERO member of Parliament Miles Sampa says the Lusaka City Council needs a municipal bond of about US$500 million for it to operate effectively and meet its obligations.
Mr Sampa, who is Deputy Minister of Finance, said in an interview yesterday that the council has no reliable source of revenue hence the need to get a municipal bond for it to operate to people’s expectations.
Mr Sampa said the municipal bond would not be a Government project but strictly that of the local authority.
He said the local authority would then use the money to construct high rise buildings in all the constituencies of Lusaka.
Mr Sampa, who has since made the proposal to the council which is discussing the matter, said the move would ease accommodation problems and at the same time widen the council’s revenue base.
“We want to build at least 10 high rise flats like Findeco House which will benefit 200 to 300 residents of Lusaka,” he said.
Mr Sampa said the ambitious programme would also see the council buying off townships like Kanyama, Chibolya and Kalingalinga to create land for construction of high rise flats.
He said the current government’s way of doing things is not to increase rates or taxes but coming up with good plans such as the idea of the municipal bond.
Mr Sampa however said the issue of the municipal bond has been on the table for a long time but successive councils have failed to implement it.
“The PF believes in action and we will soon see the results,” Mr Sampa said.
[Zambia Daily Mail]

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chaiman

Youth Chairman