THE Government should ensure that it implements the Cannabis and Industrial Hemp Acts of 2021 as a matter of urgency to close the rising fiscal deficits while the country is still enjoying the luxury of not paying towards debt interests, Green Party president Peter Sinkamba has said.
Speaking with The Scoop, Mr Sinkamba said that the window that Zambia has of not paying debt interests was an opportunity to re-plan and make money to pay its debt when the window closes in 2026.
On May 20, 2021, Zambia enacted two laws; the Cannabis Act, 2021 and the Industrial Hemp Act, 2021. Their enactment follows a 2019 cabinet decision to permit the production and export of cannabis for medical and export purposes.
He said that operationising the two acts would allow Zambia to generate enough money so that it was not constrained when the time to pay comes.
“The Government needs to seriously consider putting into practice the two acts so that the country is not caught by surprise when the time to pay back the debt comes because payment has just been paused but will eventually resume,” Mr. Sinkamba said.
He feels that the finalization and implementation of the Act has taken a long time to materialise especially that about 20,000 hectares had been secured for the production of hemp for medicinal and industrial purposes across the country with support from chiefs Kaputa, Chikanta, and Chipepo.
He said that the legalization of Cannabis for medicinal and industrial purposes would spur development.
He further affirmed the party’s commitment towards working with the Government to make sure that this policy position was a big success.