Liquidation of KCM perfect route, says PF’s Mulongoti
By Staff Reporter
McDONALD Mulongoti, a resident of Chingola and a former mayor there, says “KCM made our lives miserable.”
Mulongoti believes the PF government’s decision to disengage Vedanta Resources from Konkola Copper Mines (KCM), through a provisional liquidation process, is profoundly impeccable.
“[The decision] has been taken in the best interest of us residents in areas where KCM operates such as Chingola, Chililabombwe, Kitwe and Nampundwe and beyond because by extension, Zambians in general benefit from KCM investment,” Mulongoti, a PF member, stated in a press statement.
“It is unfortunate that from the time Vedanta took over KCM, very few direct and indirect jobs have been created and all we have been witnessing is exacerbation of unemployment challenges and obscured corporate social responsibility(CSR), chiefly because the investor’s preoccupation was profit maximisation without due regard to the outside environment.”
He added that those criticising the government for going the liquidation route, on KCM, were misdirected.
“As such, we want to take great exception to all those critics of the takeover because the essence of any investment is not only to make profit without considering the plight of people in whose area(s) you invest,” stated Mulongoti.