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Alba Iulia
Monday, September 28, 2020

Parastatal and Statutory institutions remit statutory obligations amounting to 3.4 billion Kwacha

Economy Parastatal and Statutory institutions remit statutory obligations amounting to 3.4 billion...

Parastatal and statutory institutions failed to remit statutory obligations amounting to 3.4 billion Kwacha in 2018. This is according to the Report of the Auditor General on the accounts of Parastatal Bodies and other statutory institutions for the financial year ended December 31, 2018.

The notable institutions cited in the report include the University of Zambia which accounted for 81% or 2.7 billion Kwacha of the total amount the institutions failed to remit.

The other is the Nitrogen Chemicals of Zambia which accounted for 14 percent or 465 million Kwacha.

The office of the Auditor-General says four out of 16 institutions audited made irregular payments in amounts totalling over four million Kwacha.

The report reveals that the implication of the irregularity is loss of revenue to the government in the case of non-remittances to ZRA and risk of failing to pay employees when they retire in case of National Pensions Scheme Authority and Workers Compensation Fund Control Board.

The report also revealed that four out of the sixteen institutions made questionable payments in amounts totalling 4.6 million Kwacha.

The Report further says that at the Nitrogen Chemical of Zambia, commissions were paid to agents without evidence of facilitated sales.

Office of the Auditor-General head Public Relations, Ellen Chikale told ZNBC News in a statement that circumstances included continued payments based on expired contracts, insurance claims paid to officers instead of the institution which insured the assets

She said the other irregularities highlighted were failure to produce financial statements, poor financial and operational performance and Weaknesses in contract management among others.

10 COMMENTS

  1. This White Elephant called IDC must be disbanded the very day the new govt will be sworn in August 2021. A sheer bureaucratic conduit for nepotism, cadrerism and corruption. Shady deals with Italian mafia that ripped off Ndola Lime, Lebanese & Sudanese conmen. Shaa!

  2. Perhaps it’s a good thing the remittances were not done, if they were then lungu the thug would have stolen it and raped zambia in the process.
    PF must go or zambia dies

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  3. The White Elephant called IDC must be disbanded the very day the new govt will be sworn in August 2021. A sheer bureaucratic conduit for nepotism, cadrerism and corruption. Shady deals with Italian mafia that ripped off Ndola Lime, Lebanese & Sudanese conmen. Shaa!

  4. “The Report further says that at the Nitrogen Chemical of Zambia, commissions were paid to agents without evidence of facilitated sales.”

    How can these foooools sleep at night when they are letting money simply walk away or stolen like this?

  5. “The report also revealed that four out of the sixteen institutions made questionable payments in amounts totaling 4.6 million Kwacha.”

    How can you proudly say you are running the country with this much recklessness and corruption

  6. I am thinking of opening my own news website. This website for lusaka times is the worst I have ever been on. I will let you all know once my website is up and running

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  7. It is unbelievable how Zambia is being managed. These Auditor General’s revelations of plain theft in all public institutions are NEVER ACTED UPON ONCE REPORTED. It just sounds like an old scratched record.
    Take NAPSA, for instance. We the poor senior citizens, the pensioners, are paid a mere K1000 as the entry point for the monthly pension, when the basic bread basket amount is now over K6000. If there is more sincere pension funds management in Zambia, the minimum monthly pension could even be pegged at at least K3000. Many retirees these days are retiring from renewable contracts where there are no lump sum terminal benefits. But most of NAPSA funds go to areas far from we the pensioners, benefiting the corruption machinery. We the pensioners pray that one day we shall have a…

  8. Parasitals a failed model. Why repeat the mistakes of the past? Parasitals only work in communist type countries. Waste of time and resources. Shut them down.

Comments are closed.

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