BCL closure slows economic growth
Friday, July 07, 2017
Ripple effects: Electricty and coal production are some of the sectors affected by the BCL closure
Although the economy’s new driver, the services sector continued to perform well, it was the 28.9% decrease in the real mining value added that largely slowed economic growth.
BCL’s closure also affected coal production with Morupule Coal Mine (MCM) reducing output while the water and electricity sector also reduced output due to the closure of the copper and nickel mines.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...