Ms. Mwaka Mukubesa, the Permanent Secretary for Budget and Economic Affairs in the Ministry of Finance and National Planning, emphasized the critical role of parliamentary oversight in debt management to mitigate the risks associated with accumulating public debt to unsustainable levels. Speaking at the Consumer Unity and Trust Society (CUTS) National Economic Symposium, Ms. Mukubesa highlighted the importance of ensuring accountability to the National Assembly and the public in borrowing operations.
Addressing attendees at the Neelkanth Sarovar Premiere Hotel in Lusaka, Ms. Mukubesa stressed the government’s commitment to parliamentary oversight by enacting the Debt Management Act number 15 of 2022, aligning with constitutional requirements. She emphasized that this legislative framework aims to enhance transparency and accountability in debt management.
Ms. Mukubesa outlined several measures taken by the Zambian government to adhere to the Debt Management Act, including:
- Submission of the annual Borrowing Plan to the National Assembly for approval before borrowing.
- Publication of the medium-term Debt Management Strategy to provide insight into government borrowing strategies.
- Conducting public debt sustainability analysis and publishing reports.
- Publishing the quarterly debt statistical bulletin.
- Submission of the annual public debt, guarantees, and grants execution report to the National Assembly.
Furthermore, Ms. Mukubesa highlighted the government’s commitment to transparency and accountability by making these documents accessible to the public through the Ministry’s website.
The National Economic Symposium, organized by CUTS, aims to facilitate dialogue on the state of the economy, with a particular focus on launching the Public Finance Management Act (PFMA) analysis report. Sajeev Nair, CUTS Regional Director and Board Member, emphasized the symposium’s objective of equipping parliamentarians with the knowledge and tools for effective legislative and oversight functions in public debt management.
The symposium, attended by over 60 participants, including Members of Parliament, civil society organizations, donor representatives, and embassy officials, underscores the collaborative efforts to strengthen parliamentary oversight and promote transparent and inclusive public debt management in Zambia.
So HH and UPND had no idea how to run Government..now its Chipante pante and motivational speaking and more promises
So if you have money Chishimba Kambwili can easily become your wife…..if offered money Chishimba is ready to give away his backside virginity…notice how he has become quite after being exposed by Mweetwa that he is working with UPND secretly for brown envelopes and Govt contracts…and someone in UPND doing Kambwili from behind
Toothless laws. No jail time for offenders/transgressions of the said laws. Jail time only applies to the poor who steal nshima, chicken and kapenta.