Thursday, March 28, 2024

Government to announce Public Investment Board composition after cabinet approval

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Minister of National Development Planning, Honourable Alexander Chiteme addressing Member States at the ongoing United Nations (UN) High Level Political Forum (HLPF) on Sustainable Development themed: “Transformation towards sustainable and resilient societies.” Picture courtesy of Zambia Mission/WALLEN SIMWAKA
Minister of National Development Planning, Honourable Alexander
Chiteme addressing Member States at the ongoing United Nations (UN)
High Level Political Forum (HLPF) on Sustainable Development themed:
“Transformation towards sustainable and resilient societies.” Picture
courtesy of Zambia Mission/WALLEN SIMWAKA

Government says it is waiting for Cabinet approval of the composition of the Public Investment Board before it is announced to the public.

Minister of National Development Planning, Alexander Chiteme said the terms of reference to guide the operations of the board have been developed and the composition of the institutional representation has also been determined.

Mr Chiteme explained that government has set up the Public Investment Board to approve all Public Investment projects before they are implemented.

“The ultimate objective for putting in place the Public Investment Board is to provide policy direction in the selection of the public projects that will ultimately have higher impacts,” said Mr Chiteme.

The Minister said the Board’s responsibility will be to provide policy guidelines on the development and selection of projects that meet the required technical, economical and appropriate social requirements for the country and citizens.

He said the board will scrutinise the cost implications involved in undertaking the projects by comparing the financial inputs and gains as well as assessing the most feasible financing modalities for such projects.

The Minister said this is in line with government’s austerity measures to manage escalating costs on public investments and bring them to the most bearable levels that will guarantee value for money to both Government and beneficiaries.

Mr Chiteme said his ministry with support of Cooperating Partners under the Public Financial Management Reform Programme is putting in place the public investment management system to strengthen the work of the Board in appraising public investment projects.

He disclosed that a total of 25 officers from the Ministry of National Development Planning and other line ministries have also been trained in project appraisal adding that work is in progress in developing an ICT system and database to support the Public Investment Management System.

This was contained in a press statement made available to ZANIS by the Ministry’s Public Relations Officer, Chibabula Silwamba.

16 COMMENTS

  1. Ultimately it will just be a rubber stamp since the appointees will have to pay allegiance to the appointing authority. So another waste of resources.

  2. But His Excellency President Edgar “Directive” Lungu will just give directives to the Board. Don’t waste our time iwe Alexander Chiteme.

  3. What board caders ati board, stupid!ty is over the top, if a kaponya can be a minister under a convicted debarred lawyer this board will be full of kaponyas and thieves like the !doit at the helm

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