Industrial Development Corporation (IDC) Group executive director Mateyo Kaluba says employees at Times of Zambia will be paid their three months’ salary arrears by the end of June when resources will be made available to the corporation.
In a statement issued by IDC public relations manager Namakau Mukelabai, Tuesday, Kaluba said resources would be made available to the corporation through a shareholder’s loan advanced to the Times Printpak Zambia.
Kaluba further urged the staff at Times to remain calm as a long-term solution was being sought.
“We can only make payment after funds are available for IDC at the end of June, through a shareholder’s loan to Times Printpak. We, therefore, want to urge staff at Times Printpak Zambia to remain calm as we look for a long-term solution to sustain the company. IDC holds one hundred percent shareholding in Times Printpak Zambia,” stated Kaluba.