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HomeAfrica NewsSouthern AfricaMinistry of Finance Released K13.3bn in August | Zambia 24

Ministry of Finance Released K13.3bn in August | Zambia 24

By Brian Mwale

The Ministry of Finance last month released 13.7-billion Kwacha to finance public service delivery.

Three point 6-billion Kwacha of the released amount went to transfers, subsidies and social benefits while 1.5-billion kwacha was released for implementation of various government programs and general operations.

The 3.6-billion Kwacha for transfers and subsidies category includes 115.1-million Kwacha for operations of universities and students’ loans and scholarships; 764.5-million Kwacha for social cash transfer and 206.8-million Kwacha for operations of hospitals and grant aided institutions.

Servicing of both domestic and external debt and arrears received 3.4-billion Kwacha with public service wage bill getting 3.8-billion Kwacha and capital expenditure getting 1.3-billion Kwacha.

The office of the Secretary to the Treasury has stated that an additional 1.5-billion Kwacha was also released for the Farmer Input Support Program -FISP- and the Food Reserve Agency -FRA.

The office adds that 1.5-bilion Kwacha was also released to facilitate service delivery.

The Ministry of Finance last week also held several development corporation and investor relations meetings with both local and foreign partners among them Canadian Minister for International Corporation Development, a parliamentary team from Japan, Chambishi copper smelter and International Monetary Fund -IMF.

This is contained in a statement made available to ZNBC News in Lusaka.

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