Government releases K418.5 million for debt service

The Treasury has released K418.5 Million for debt service, development programmes and government operations.

K14.4 Million was released for the rural roads infrastructure programme in various provinces such as Central, Copperbelt, Luapula, and North-western.

ZANIS reports that this is according to a statement signed by Ministry of Finance Public Relations Officer Chileshe Kandeta , today.

Secretary to the treasury Fredson Yamba says in the statement that most farmers who have produced the expected 3.3 million metric tons bumper harvest for the 2013/2014 season are expected to benefit from the rural roads programme.

Mr. Yamba explains that this was because the yields will efficiently be transported from their fields to relevant sheds and crop markets across the country.

The Treasury has given K 8.5 Million to the Ministry of Agriculture and Cooperatives of which K2.5 million is targeted at programmes related to controlling the spread of the African swine fever and a further K6 Million for aerial crop spraying.

Financing of these programmes is consistent with government’s long-term objective to fully diversify the economy, with agriculture as one of the leading sectors, says Mr. Yamba.

The Drug Enforcement Commission has been given K1.6 million for operations while the Zambia Prison Service got K12 Million for purchase and operation of speed boats as part of the government’s programme for strengthening the capacity of the law enforcement fraternity.

K8 Million has gone towards Foreign Service expenses while Ministry of Youth and Sport received K5 Million for the Youth Development Fund and the Ministry of Community Development Mother and Child Health received K2.5 Million for women empowerment programmes.

Other state entities that received funds include the Cabinet Office, Ministry of Home Affairs, Ministry of Justice, Ministry of Labour, and the Anti-Corruption-Commission.

K227 was released to finance the servicing of the domestic debt.

Mr Yamba said Zambia cannot afford to slip-up on debt obligations because of the credit-rating by internationally recognized agencies, Fitch, and Standards and Poor’s, respectively.

He said the successes which the economy is scoring are not a twist of luck but planned programmes complimented by the toils of citizens, who, on a daily basis, continue to grasp the opportunities for empowerment and business development created by the government, and turn these into personal wealth, jobs for the people, and profits for their businesses.

Mr Yamba said people should participate in economic transformation programmes with open minds by taking greater interest in monitoring the implementation of projects in their localities.

The Secretary to the Treasury said participation in, and ownership of development programmes, is essential to the country’s successful socio-economic adjustment adding that it is also one way in which the government could be held accountable on utilization of tax payer’s resources.

ZANIS