AIRLINK 72.59 Increased By ▲ 3.39 (4.9%)
BOP 4.99 Increased By ▲ 0.09 (1.84%)
CNERGY 4.29 Increased By ▲ 0.03 (0.7%)
DFML 31.71 Increased By ▲ 0.46 (1.47%)
DGKC 80.90 Increased By ▲ 3.65 (4.72%)
FCCL 21.42 Increased By ▲ 1.42 (7.1%)
FFBL 35.19 Increased By ▲ 0.19 (0.54%)
FFL 9.33 Increased By ▲ 0.21 (2.3%)
GGL 9.82 Increased By ▲ 0.02 (0.2%)
HBL 112.40 Decreased By ▼ -0.36 (-0.32%)
HUBC 136.50 Increased By ▲ 3.46 (2.6%)
HUMNL 7.14 Increased By ▲ 0.19 (2.73%)
KEL 4.35 Increased By ▲ 0.12 (2.84%)
KOSM 4.35 Increased By ▲ 0.10 (2.35%)
MLCF 37.67 Increased By ▲ 1.07 (2.92%)
OGDC 137.75 Increased By ▲ 4.88 (3.67%)
PAEL 23.41 Increased By ▲ 0.77 (3.4%)
PIAA 24.55 Increased By ▲ 0.35 (1.45%)
PIBTL 6.63 Increased By ▲ 0.17 (2.63%)
PPL 125.05 Increased By ▲ 8.75 (7.52%)
PRL 26.99 Increased By ▲ 1.09 (4.21%)
PTC 13.32 Increased By ▲ 0.24 (1.83%)
SEARL 52.70 Increased By ▲ 0.70 (1.35%)
SNGP 70.80 Increased By ▲ 3.20 (4.73%)
SSGC 10.54 No Change ▼ 0.00 (0%)
TELE 8.33 Increased By ▲ 0.05 (0.6%)
TPLP 10.95 Increased By ▲ 0.15 (1.39%)
TRG 60.60 Increased By ▲ 1.31 (2.21%)
UNITY 25.10 Decreased By ▼ -0.03 (-0.12%)
WTL 1.28 Increased By ▲ 0.01 (0.79%)
BR100 7,566 Increased By 157.7 (2.13%)
BR30 24,786 Increased By 749.4 (3.12%)
KSE100 71,902 Increased By 1235.2 (1.75%)
KSE30 23,595 Increased By 371 (1.6%)

LUSAKA: Zambian President Edgar Lungu, on a visit to India this week, has no plans to meet anyone from Mumbai-listed Vedanta Resources whose copper firm faces expulsion from Zambia for allegedly failing to pay taxes, his office said Tuesday.

Vedanta said in a statement earlier Tuesday that it was looking "forward to engaging with President Lungu and his team in India this week and to building on the discussions held last week in Lusaka".

But Lungu's spokesman Isaac Chipampe said in a statement that "the President will not be meeting the Vedanta chairman Anil Agarwal or his representative as he embarks on his state visit here".

Lungu arrived in India Tuesday for a three-day state visit, his first since his re-election in 2016, according to the Indian foreign ministry.

London-based Vedanta is the majority owner of Zambia's largest copper mining firm, Konkola Copper Mines (KCM), which has been at the centre of a standoff with the government. The state-owned ZCCM-IH is a minority shareholder in KCM.

Lungu last week met Vedanta chairman Argawal at the request of the investor but vowed to dissolve the firm, accusing KCM of violating its operational licence and not paying all its taxes.

Vedanta has denied the allegations and is locked in a legal battle with the government.

Zambia is Africa's second-biggest copper-producing country after the Democratic Republic of Congo, and the sector is a major employer.

During his visit to India, Lungu is due to hold talks with President Shri Ram Nath Kovind which are expected "to focus on cooperation in defence, security, geology and mineral resources, energy, health, education, infrastructure, culture, trade and investment related issues," the Indian foreign ministry said.

Copyright AFP (Agence France-Press), 2019
 

Comments

Comments are closed.