The Chairman of Mahtani Group of Companies, Dr. Rajan Lekhraj Mahtani has expressed concern over the prevailing economic conditions in Zambia. He is of the opinion that Zambia should have prevented the prevalence of adverse conditions, rather than chasing for the solution of the crisis.
It is obvious that Zambia is not suffering only because of its internal problems, rather external impact is also adding to the misery of the nation. As the passage of time moves ahead, one can clearly see that the value of Zambian Kwacha continued to fall. Dr. Rajan Lekhraj Mahtani cites an example where the value of ZMK in terms of US Dollar (USD) was approximately 0.34 in 1993 (October) and ever since, it has continued to rise at a constant pace. Today, USD is traded at almost 10.12 ZMK because the nation has been hit by the global crisis.
Ngosa, an economist in Zambia comments, “Dr. Rajan Mahtani has a business mind. He has clearly seen the impact which the global crisis has left in Zambia. He has just presented a clear view of how things would have been handled while facing the crisis, but it is sad to realize the fact that none were bothered.”
Dr. Rajan Lekhraj Mahtani also talked about the impact of this crisis on businesses. Since the rate of USD and GBP have shot up, it has become expensive for the businesses to operate as the cost of fuel, food and other necessities have increased. However, this doesn’t mean that the business management group should start terminating employees and reduce its fixed expenses like the Ventriglias in the Zambezi Portland Cement Factory. The need of the hour is to stand united and find a solution whereby the lost glory of Africa can be restored through brotherhood and dedication in work culture.
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