From the $750m Eurobond taken out by the current PF government, Zambia Railways was given $120m to invest in rolling stock, new infrastructure, the upgrading of railway tracks so that train speeds can be increased to 120km per hour. That was 6 years ago.
Last week, IDC, whose chairman is President Lungu announced that they want another nkongole of $1 Billion for, guess what?
– Rolling stock
– New Infrastructure
– Upgrading of rail tracks
– increase speeds of trains to 120km per hour.
The same reasons they gave 6 years ago when they got $120m.
So what happened to the $120m that was given to Zambia Railways 6 years ago. Who was responsible for it and where did this money disappear to?
There were allegations that the money was misappropriated and shared amongst thieving PF cadres and leaders.
Now these Mwankoles want to borrow another $1Billion to share amongst themselves again….????
This is precisely why the current constitution has a built in mechanism to provide checks and controls on such recklessness.