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Alba Iulia
Saturday, October 31, 2020

Treasury releases K1.47 Billion for operations

Economy Treasury releases K1.47 Billion for operations

Secretary to the Treasury Fredson Yamba
Secretary to the Treasury Fredson Yamba

The Treasury has released K1.47 Billion for operations, emoluments, debt service, and some developmental programmes.

In line with Governments objective of maintaining Zambia’s sound credit worthiness, the Treasury has released K211 Million as interest payments on Government bonds and treasury bills, K74.2 Million for external debt service.

Another K29 Million has been released for dismantling arrears owed by Government to the Lusaka Water and Sewerage Company.

Secretary to the Treasury Fredson Yamba has said efficiency and effectiveness in operations at ZRA has a direct impact on tax revenue collections.

“It is for the this reason that the Treasury always funds the ZRA so that the resultant revenues collected are also, in a timely manner, channeled to domestically financed developmental programmes,” said Mr. Yamba.

This is according to a statement signed by Finance and National Development Public Relations officer Chileshe Kandeta to ZANIS in Lusaka, today.

Some of Ministries and Other Spending Agencies, which received funds for operations, productivity improvement, and developmental programmes, are Education, Commerce Trade & Industry, Drug Enforcement Commission, Judiciary, Youth & Sport, and Foreign Affairs.

Others are Information & Broadcasting, Lands, Health, Home Affairs, National Assembly, Zambia Police, Zambia Prison Service, Electoral Commission of Zambia, Human Rights Commission, and other Service Commissions.

The rest include Ministry of Community Development Mother and Child Health, Ministry of Communications, Transport, Works and Supply, and the Zambia Revenue Authority. The funds were released between 9th and 20th June, 2014.

“ Of the K35 Million public resources given to the Ministry of Community Development Mother and Child Health by the Treasury, K15.1 Million is for the social cash transfer system.

“ This is a demonstration of the Government’s continued commitment to the mitigation of income inequality and a direct intervention in helping deserving recipients to hit-the-ground-running in their micro-entrepreneurial endeavors, “read the statement in part.

It adds that the Ministry of Agriculture and Livestock got K174.5 Million for a Livestock Infrastructural Support Project, the Irrigation Development Support Project, and a loan under the Food Reserve Agency.

The Treasury gave the Zambia Revenue Authority a grant of K15.8 Million to facilitate revenue collection and other operations.

Mr. Yamba has urged citizens to continue participating in economic transformation programmes with open minds by taking greater interest in monitoring the implementation of projects in their localities and reporting any concerns, which they observe on project implementation sites, to relevant Government authorities.

“The local ownership of development programmes is essential to successful economic transformation. It is also one way in which the Government could obtain feedback on its performance in meeting the peoples aspirations, especially related to utilization of public resources and the impact of these invested resources on the daily lives of citizens,” said Mr. Yamba.

5 COMMENTS

  1. AS Dr GUY SCOTT POINTED OUT, ZAMBIA NEEDS TO DO A LOT IN AGRICULTURAL DEVELOPMENT. ZAMBIA (GRZ) NEEDS TO EXPEDITE THE INDUSTRIAL CLUSTERS IMPLEMENTATION ALONG SIDE THE FARMING BLOCKS. THE AGGRO PRODUCTS FOR EACH FARMING BLOCK MUST BE SUPPORT BY THEIR RESPECTIVE INDUSTRIAL CLUSTERS IN TERMS OF FOOD PROCESSING AND MANUFACTURING- MEANING FROM FARMS TO A CLUSTER NEAR THE FARM- PROCESSED, PACKED AND LABELLED (VALUE ADDITION) AND EXPORTED RIGHT FROM THAT INDUSTRIAL CLUSTER TO THE MARKETS INTERNATIONALLY OR INTERNALLY. I WONDER WHY THE GOVERNMENT IS NO LONGER TALKING ABOUT INDUSTRIAL CLUSTERS NEAR FARMING BLOCKS.

  2. I don’t see the point of announcing the funding of normal government activities. Only PF is capable of this pettiness. In other news the sun arose today! And it is expected to set later on.

Comments are closed.

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