Govt calls for prudent management of public resources

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—Secretary to the Treasury, Fredson Yamba, has reiterated government’s commitment to prudent management of public resources and maintenance of the national debt within sustainable levels.

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Mr Yamba pledged the Treasury’s reassurance to handling financial obligations with utmost care, transparency and accountability.

 

This is contained in a statement made available to ZANIS in Lusaka today by Ministry of Finance Public Relations Officer, Chileshe Kandeta.

 

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He said as custodians of public resources and assets, the ministry has a duty to maintain the confidence of the public through prudential management of funds and adherence to laid-down procedure.

 

Mr Yamba said in going forward, its desire is for controlling officers in Ministries, Provinces and other Spending Agencies (MPSA’s) to strictly adhere to budget management guidelines so as to avoid irregularly accumulation of debt and to curtail misappropriation of funds.

 

Mr Yamba said the Treasury had adopted an intolerant stance against misappropriation, misapplication and misuse of public funds.

 

He said the ministry wishes to see Controlling Officers and Heads of Public Institutions strictly following and observing financial and asset management guidelines in order to minimise appearances at the Parliamentary Public Accounts Committee.

 

The Secretary to the Treasury has also instructed Heads of Public Sector Organisations and MPSA’s to ensure that all tender processes and contracts are operationalised in accordance with laid down procedure.

 

He appealed to responsible officers to diligently scrutinise applications for single sourcing, selective bidding, waivers and variations to contracts and to ensure that they are justifiable, authentic and regular in nature.

 

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