THE Zambia Institute of Purchasing and Supply (ZIPS) has called on all members to observe the Government's ban on the use of the United States dollar and start quoting all goods and services in Kwacha.
Welcoming the Government's ban on the use, quoting and demanding of payment in foreign currency, ZIPS president George Chiti Mumba said the move had come at the right time.
He said the step would ensure that the purchasing power of the Zambians was maintained.
Mr Mumba said in a statement in Lusaka yesterday that all members should ensure that all goods and services were quoted in Kwacha and Ngwee as opposed to foreign currencies.
"This aspect should be observed on all purchases whether shopping, national competitive bids or international competitive bids," he said.
He called on the Zambia Public Procurement Authority to quickly issue guidelines on how the public procurement practitioners would be drafting the terms of contracts regarding payment and evaluation of tenders.
But Atlas Copco has said the ban on quoting of goods and services in foreign currency has affected its business transactions.
Recently, the Minister of Finance Alexander Chikwanda issued a statutory instrument banning all business transactions quoted in the foreign currency.
Atlas Copco product manager Michael Musenge said the move had affected business transactions, adding that figures in Kwacha had become complicated.
"You know when we used to quote in dollars the digits used to be minimal compared to the Kwacha. Now we have to reprogramme our computers which are calling for accuracy with figures.
"The figures are now more complicated because in our currency most figures come to billions, sometimes trillions which is making it difficult to manage," he said.
On May 7, 2012 the minister of Finance signed Statutory Instrument (SI) number 33 of 2012 which came into effect on May 18, 2012, prohibiting the quoting and pricing of goods and services in foreign currency.
Mr Musenge said he only hoped that the rebased currency would be rolled out soon so that the confusion could be resolved.
He said the company was re-positioning itself to ensure it met the challenges that may be posed by the ban on the use of the foreign currency by reprogramming the computer systems.
Atlas Copco has been operating in the country for over 60 years and it deals in mining and other earth-moving equipment.