Letter to the President
Despite KCM been out of the hand of Vedanta the local suppliers and contractors haven’t been paid in a long time and they are complaining and crying of when the situation will change.
According to my knowledge KCM has not been submitting its dues to the Local Municipality regularly and has not been up to the game when it comes to co-operate social responsibility.
The Management at KCM needs to change in the way that they are working and look in the plight of the Local small and medium enterprises.
Therefore to remedy the situation there is a need for the main anchor of the industry in town, to ensure equitable distribution of jobs and improved payment.
This would in turn create an environment where Local Suppliers and Contractors would be accorded an opportunity to distribute wealth evenly, thus revamping the struggling district economy.
The future of KCM is dependent on finding a credible investor and recapitalization in this regard, stakeholders require a strategic direction, serious and robust plan from government relating to finding a serious investor for KCM.
Settlement and servicing of creditors most multinational anchor industry, to honour payments to Local suppliers and contractors when they fall due. This in turn creates financial hardships to local businesses, mainly as it relates to servicing of statutory obligations in particular NAPSA, ZRA.
In this regard, it is important for government to regulate and compel these partners to honor their obligations timely.