The Federation of Free Trade Unions of Zambia has disclosed that the rate of non-compliance with statutory requirements and obligations by security companies is very high.
Federation President Muyamwa Kabisa has noted that a lot of security companies are not remitting statutory contributions deducted from employees to statutory bodies such as Zambia Revenue Authority, National Pension Scheme Authority and National Health Insurance Scheme.
Mr. Kabisa has observed that a number of security companies are exploiting their employees by subjecting them to poor working conditions and salaries.
Mr. Kabisa has called on government to intervene by establishing a regulatory body that will regulate the operations of private security companies.
Meanwhile, the Federation has commended government for unprecedented approach to labor law reforms citing the amendments of the employment code act, industrial and labour relations act among others.
Mr. Kabisa has also observed that the current state of affairs indicates persisting social- economic challenges which include low diversification, of economy, high youth unemployment, and inequality.
He says the Gross Domestic Product growth has not been impressive due to inflationary situation which has remained volatile and exchange rate situation remains unstable.
He said despite efforts by the Bank of Zambia to raise the monitory policy rate from 11percent to 17 percent the situation remains dire.
Mr. Muyamwa said the Federation is expecting to see that any positive trend in the growth of the economy is anchored on sustainable interventions.