| Felix Mutati says giving the powers to superintend over the Industrial Development Corporation to the presidency is opening the institution to abuse by the Head of State or those exercising power on behalf of the President. Last week, President Edgar Lungu announced that IDC had taken over, from the Ministry of Finance, ownership of government stake in all state-owned enterprises.
Mutati also said the 2016 budget should provide for a sovereign wealth fund which should be funded by IDC through profits and dividends. “And it is that sovereign wealth fund that can be used for investments and other activities. They shouldn’t be deployment of resources from government into IDC for the purpose of investment. IDC must find money to deploy for investment,” said Mutati...............................................Full Article: Source
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