Govt denies paying new wages from Eurobond money

Sovereign Bond
Sovereign Bond
Government has refuted media reports suggesting that the money for payment of new salaries for civil has been got from the Eurobond money allocated to the Zambia Electricity Supply Corporation (ZESCO) and Zambia Railways Limited (ZRL).

Secretary to the Treasury Fredson Yamba has told Qfm that all the money allocated to the two parastatals is still in their possession.

Mr. Yamba has however, explained that the money that some media reports may have mistook for the Eurobond money which has been withdrawn by the government from some banks is actually idol money which government routinely withdraws to allocate to areas where need arises.

Mr.Yamba has also maintained that there should be no anxiety among civil servants regarding their increased salaries that are being effected this month end as government will sustain their remunerations.