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Alba Iulia
Monday, May 25, 2020

Revised Public Finance Act will end the continued misappropriation of funds-Yamba

Economy Revised Public Finance Act will end the continued misappropriation of funds-Yamba

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

Secretary to the Treasury Fredson Yamba is hopeful that the revised Public Finance Act will put an end to the continued misappropriation of funds, as cited in the Auditor General’s report.

Mr Yamba says there is need to seal loopholes so that erring officers are taken to task.

He says controlling officers must also be given the mandate to take punitive action against those found wanting in the Auditor General’s report.

Mr Yamba said this in his submission to the Parliamentary Public Accounts Committee sitting in Lusaka today.

He said there is also no punitive measure in the financial regulations that spells out misapplication of funds.

Mr Yamba told the committee chaired by Muchinga MP, Howard Kunda that misapplication of funds is outright theft, which should equally attract serious punishment.

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9 COMMENTS

    • but who and were are the culprits of this misappropriation? Yamba is so incompetent, after 6 years in power he is revising the finance act!

  1. Mwane, be Yamba. Let us support the institutionalization of the fight against corruption. Not the circus Levy ran with M’membe and the Nchito hyenas. This will give the AGs report weight and his office significance.

  2. Mr. Yamba is “hopeful?” Keep being hopeful Sir, until the treasury runs dry.

    But I agree with you on arresting and throwing these people in jail.

  3. The Zambian Intelligence /OP is the most Wasteful, Extravagant, un regulated and biggest culprit in government expenditure.
    The OP has illegally acquired and conducting experiments and in the process, torturing and killing innocent people in Zambia, using the following Instruments of Torture and Death: Radiological, Chemical and Biological weapons.

  4. Exactly what is suspected of UPN.Donkeys, plus planting Larger grain borer, arky worms, cholera and torching markets. All in a vain and wasteful and self centred effort to gain power for under5.
    Just check the culprits in AG report, you will find that its the work of economic saboteurs, those who think it is a wsy of entering state house. Sorry guys…all will be in vain…..kikikikiki

  5. We are hoping to see all those found wanting by PAC(whose sittings commence today) arrested and prosecuted. We are sick and tired of hearing glaring financial irregularities year in, year out in the Auditor’s report without taking any action against perpetrators. The Auditor’s annual reports should not continue to be mere academic exercises

  6. Indeed these measures will see the elimination of people collecting trunk loads of cash as civil servants and delivering it to a relative all in the name of support and later be rewarded with a senior position in boma once 2 m rebased is in office

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