UPND President Hakainde Hichilema Hichilema has accused the PF of having ulterior motives in placing the troubled mining giant KCM under liquidation. He admitted that the company had been mismanaged by its owners and was in dire straits but that liquidation was a wrong way to go as it would not resolve the problems of the firm.
“PF should have opted to place KCM under administration inorder to protect the interests of the workers and suppliers. Liquidation means that the Company’s assets will have to be sold and monies paid to ‘ranking creditors’, inorder of priority while workers and suppliers will be considered last. In liquidation Banks and big creditors with debentures take the lion’s share”, said the UPND President.
Mr Hichilema explained that placing KCM under administration would have allowed the company continue operating as new buyers were being sought while liquidation entailed that the company shuts and assets are sold.
Mr Hichilema who was speaking in a live radio interview with Radio Christian Voice this morning accused the PF of behaving like the vulture waiting to feed on a carcass of a dying animal. He strongly denied media reports that he had endorsed President Edgar Lungu’s decision to liquidate KCM calling the news as fake.
“ZCCM IH which represents Government are part owners of KCM and sat on their Board. They knew the extent of the problems in KCM and did nothing about it until it was on its knees and now like vultures they want to devour it for their own selfish interests”, charged Mr Hichilema.
Meanwhile Hakainde Hichilema has challenged anyone with evidence that he sold the mines to come up with the proof and that he would give a gift of a three bedroomed fully furnished house.
“Those in PF that hate me to the bone would have prosecuted me by now if indeed it was true that I sold mines. If anyone has any evidence to that effect, I challenge them to come forward and I will buy such a person three bedroomed house”, said Hichilema in an answer to a caller.