The Emerald and Semi-Precious Stones Association of Zambia has projected that the sector will continue to grow and increase its contribution to the country’s gross domestic product.
Association president Victor Kalesha, was reacting to a Presidential speech delivered to Parliament by President Edgar Lungu last week which indicated that emerald production has increased from below 10,000 kilograms to over 12,000 kilograms.
Meanwhile Mr. Kalesha tells Money FM that the government should abolish the 15 percent export tax on emeralds because it is not friendly to the sector due to the already high cost of production attached to emerald mining.
“We think as an association that there is need to look at the bigger picture of attracting investment to the sector other than killing the sector with excessive taxes. Let’s not miss this opportunity to diversify the economy within the mining sector by creating more flexible and friendly taxes to the sector” he said.
Emerald production in Zambia has increased by 34 percent from 9, 475. 55 kilograms during the first half of 2018 to12, 696. 2 kilograms in the corresponding period in 2019.