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Alba Iulia
Tuesday, June 2, 2020

Treasury releases K115 million to FRA for outstanding dues

Economy Treasury releases K115 million to FRA for outstanding dues

Chileshe Kandeta
Chileshe Kandeta

The Ministry of Finance has released K115 million to the Food Reserve Agency (FRA) to facilitate the settlement of some dues in the reserve food purchasing chain.

A financing plan is underway to release an additional K85 million in a fortnight.

A few days ago, the Treasury released K400 million for the e-voucher and Farmer Input Support Programme to ensure the smooth management of the affairs of the agriculture input supply management system.

Ministry of Finance Spokesman Chileshe Kandeta said to maintain the economic diversification drive, the Government will, during the 2017/2018 farming season, fully migrate to the e-voucher system that is aimed at covering an estimated one million beneficiaries.

Mr Kandeta said Government has further obtained financing of USD 40 million from Exim Bank of India that will be used for agriculture mechanisation.

“In addition, the Government is facilitating a USD 100 million public private sector investment into a tractor and agriculture equipment assembly plant in the Lusaka South Multi Facility Economic Zone,” Mr Kandeta said.

“In 2018, the Government will continue with the implementation of the USD 50 million Zambia Acquaculture Enterprise Development Project,” he said.

“To support accerelated productivity in the wider agriculture sector, the Government will in 2018 also recruit 750 extension service workers for agriculture, fisheries, and livestock.”

He added, “For Ministry of Finance, all these efforts are evidential to the Governments resolve and firm standing in diversifying the economy through labour intensive sectors like agriculture.”

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3 COMMENTS

  1. Thou shall not be pleased of the release of money, but how will the money be used. Chileshe could be innocent the wolves have already given exorbitant prices which we cannot imagine. This is possible hence the reason why in Zambia a Fire tender can cost $1Million dollars when in UK the same truck costs £118, 000 only.
    This country is full of criminals even the educated ones have become crooks and criminals and they stinky of corruption.
    What a shame, why do you want proof when you can them buy cars worth $400,000 when their salaries are $6,000. How does this add up? what more evidence do you want.

    Sadly criminals worse than MMD and UNIP put together.

  2. I wonder if this money is from the money banked by the farmers for their inputs.
    A robust govetnment with a robust economy wouldnt be paying out in bits and pieces,
    It is now month end and inputs still not distributed even though the Minister had PROMISED they would commence on the 15th october. Who will be buying those tractors because the farmers aren’t getting paid by FRA
    By the way the dollar is 9.98 today. So our external debt is increasing

Comments are closed.

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