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Thursday, July 2, 2020

Governement Releases K 6.73 Billion For Developmental, Public Service Delivery For May

Economy Governement Releases K 6.73 Billion For Developmental, Public Service Delivery For May

The government says it has released K6.73 billion for the month of May to finance developmental and other public service delivery programs in the country.

Ministry of Finance Secretary to the Treasury, Fredson Yamba disclosed that debt service and dismantling of arrears received the highest lump sum of K2.86 billion while infrastructure programs and rural electrification received the least amount of over K311 million.

“Of this amount, K604.92 million went towards transfers, subsidies, and social benefits, K311.13 million was channeled to infrastructure programs and rural electrification, while other developmental projects, programs, and general operations received K677.39 million in total.

“ The Government also spent K2.86 billion on debt service and dismantling of arrears. Further, a sum of K2.28 billion went towards the public service wage bill. A sum of K223.15 million from cooperating partners went towards supporting developmental programs in various sectors,” Mr. Yamba revealed.

In a statement by Ministry of Finance Public Relations Manager Chileshe Kandeta, Mr. Yamba indicated that the release of funds to recipient Ministries, Provinces, and Agencies came against a backdrop of competing demands and constrained revenue inflows caused by the outbreak of the Coronavirus pandemic (COVID-19), among other challenges such as climate change.

He has therefore assured that prudent utilization of resources will be closely monitored and evaluated by the Ministry of Finance and the Office of the Auditor-General through tightened controls in the application and management of public resources while scrutinizing the implementation of austerity measures so as to meet fiscal consolidation targets.

“The worldwide economic downturn triggered on the domestic front by severe drought in the 2018/2019 farming season, floods in the 2019/2020 season and the ravaging effects of the on-going COVID-19 pandemic, have been the biggest disrupters to the livelihoods of citizens, the well-being of the local production chain, and the performance of domestic revenue sources. Resources are now scarce.

“ Nevertheless, our resolve to ensure that Ministries Provinces and Agencies continue to prudently utilize resources has been strengthened by the instruction of His Excellency the President of the Republic of Zambia Dr. Edgar Lungu that the Ministry of Finance and the Office of the Auditor-General should further tighten controls in the application and management of public resources,” he pointed out.

Mr. Yamba indicated that the measures will advance the country’s developmental programs while positively influencing the well-being of all Zambians through sustained resource supply to various social sector programs.

He added that with the reduction of revenue inflows, his Ministry has embarked on a process of reviewing the 2020 budget to adjust planned expenditure in line with the revised revenue projections stating that social spending will be a priority.

He has thanked cooperating partners for continuing to stand with the country during the difficult period for the world’s health and economic sectors, assuring exchange of information on policy choices that are being pursued in dealing with fiscal challenges, public debt, and other macro-economic issues key to the country’s economic stabilization and recovery beyond the Covid-19 era.

Mr. Yamba appealed to the development partners to continue with their support especially with programs targeted at health, education, social security, youth and women empowerment, and private sector development and growth.

[Read 1,291 times, 1 reads today]

19 COMMENTS

  1. NOW PAY RETIREES AT PSPF. THIS TIME AROUND RETIREES AT PSPF SHOULD BE CONSIDERED FOR PAYMENT AS IT IS LONG OVER DUE. DOLLAR HAS GONE UP AS A RESULT EVERYTHING HAS GONE UP IN TERMS OF PRICE. THE MONIES TO BE RECEIVED WILL HAVE ALREADY LOST VALUE. ALL THE SAME PAY RETIREES BETER THAN NOTHING. WAITING.

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  2. “ The Government also spent K2.86 billion on debt service and dismantling of arrears. Further, a sum of K2.28 billion went towards the public service wage bill. ….”

    Look at that wage bill ? What are all those people doing when lungus GRZ expects investors to be building everything and creating employment

  3. This is good development. A level headed government that ensures the wellbeing of its citizens are paramount. I am sure those that ran to diaspora are now regretting because if a black American can killed like that and considered a nobody, what more an African? Kz

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  4. You are a savage. The Zambian police kills people, and the government keeps quiet. How many times has the police and PF killed innocent people, but your incompetent government did nothing? You need to clean your ass.

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  5. KZ

    Tell lungu we have not forgotten about the gassing of our people by PF and the resulting 50 horrific deaths of innocents….

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  6. KZ America is better at least they don’t gas people in the night while sleeping by the way when are you telling us who was behind the gassing in the country.

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  7. It’s after piling up debt on one side. This measure is not capable of getting economic activity going for any length of time.

  8. This is more like one person keeps pouring water on a hot pan pretending to cook a sumptuous meal for the visitors instead of just saying the prevailing truth of the situation in the house so that no false hopes or expectations are given to the visitors.

  9. #1 @Beni,
    Go and learn logic from Chilufya Tayali. It will cost you nothing. Read again, It says May and we are in June. Utuntu. Anyway staying in abandoned buildings in Joburg can be a nightmare and people end up like you.

  10. This article is the sole reason why we should not allow PF third term.

    “It’s not who’s in charge, it’s what they’re doing,”

    “Either way, Mr. Muilenburg, you’re still the captain of this ship. A culture of negligence, incompetence or corruption starts at the top and it starts with you. You padded your personal finances by putting profits over safety and now 346 people, including 8 Americans, are dead on your watch… I think it’s time that you submitted your resignation, don’t you?” PF you have ran out time-outs, I think you will agree.

    Muilenburg: “Congressman, I respectfully disagree with your premise on what drives our company.”
    Garcia: “Ok, well whether or not you or your colleagues are incriminated in the ongoing criminal investigation, the facts remain:”

  11. This article is the sole reason why we Should not allow PF Third term.

    “It’s not who’s in charge, it’s what they’re doing,”

    “Either way, Mr. Muilenburg, you’re still the captain of this ship. A culture of negligence, incompetence or corruption starts at the top and it starts with you. You padded your personal finances by putting profits over safety and now 346 people, including 8 Americans, are dead on your watch… I think it’s time that you submitted your resignation, don’t you?”

    Muilenburg: “Congressman, I respectfully disagree with your premise on what drives our company.”
    Garcia: “Ok, well whether or not you or your colleagues are incriminated in the ongoing criminal investigation, the facts remain:” PF you have ran out time-outs, I think you will agree.

  12. Lusaka Times is displaying the picture of the ex Auditor General Ronnie Mwambwa over this article. Me thinks this is disrespectful to the current Auditor General and promotes fake news. Check your editorial competency, not all your readers are PF cadres.

  13. Ronnie Mwambwa couldn’t be confirmed in the job by Lungu because he was from the wrong half of the country. He was frustrated out of the organisation.

  14. Imagine Sunday Chanda on radio saying global dynamics, climate change and Covid are the reasons why our economy is on its knees. Covid is a very new thing. This guy should be told that that other countries have had these same challenges but their currencies are not the second worst performing currencies in the world like ours. We are even worse off than during MMD days as if there were no global challenges and other challenges in MMD era. Infact we are looking for leaders who would put up resilient strategies during crises and not giving us excuses please. The kwacha is the second worst performing currency in the world, does mean Zambia is the only country with climate change and covid

  15. its a pity for the government to be so strictly with the money being released now, people have been stealing and you’ve been watching them with impunity. this money was meant to help recipients to recover from the pandemic measure but look at how long it has taken. we are not even sure when we shall start receiving the same money. you leaders are very comfortable with your families but do you know how we’ve been surviving all these years that you have been holding on to our money?
    How can the government allow institutions like ZAF to be feeding men and women in uniform with borrowed rations o rather food?
    Mr President please check out these points otherwise PF will go no where and this is real and serious.
    3 years without been paid by ZAF money amounting to K100,000.
    How do you…

  16. How i wish those in charge of paying us where here to see how difficult life has been leaving with 4 innocent children without capital, if that money is in my hands i can not suffer because thats i know how to manage it
    imagine how it has been for 3 years without capital and you have a family to look after

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