— Treasury releases K654.6 million for development programmes

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Treasury releases K654.6 million for development programmes



LUSAKA, June 29, 2014,  ZANIS— The Treasury has released K 654.6 million to various ministries, provinces, and other Spending Agencies [MPSA] for developmental programmes, operations and debt servicing.




And government has established a high-tech VPN-Link to Bank of Zambia in order to improve information flow related to the Real-Time-Gross-Settlement System [RTGS] and implementation of the Treasury Single Account [TSA].



Finance and National Planning Public Relations Officer (PRO) Chileshe Kandeta has revealed this in a statement to ZANIS , today.




Mr. Kandeta said out of the amount release, the National Road Fund Agency (NRF) has received K100 million from Euro bond proceeds for road infrastructure programmes under the Road Development Agency, while the Ministry of Mines, Energy, and Water Development received K2.4 million for maintenance of dams.




He added that the Zambia Revenue Authority (ZRA ) received K17.8 million for operations, of which K2 million is for performance improvement at the Kasumbalesa Boarder between Zambia and the neighbouring Democratic Republic of Congo.




He said the Ministry of Education got K12.8 million for tuition fees for government sponsored students at the University of Zambia ( UNZA) and the Copperbelt University ( CBU ).




The Finance ministry public relations officer said the Treasury has also released K12 million for sound credit worthiness, in order to sustain investor confidence and to meet some repayment obligations towards external debt serving.




Mr. Kandeta disclosed that government has now embarked on rolling out the programme to Western, Muchinga, Northern, Luapula, and North Western Provinces. To mitigate to the reduction in delayed and under banking in rural areas.




“In conjunction with Barclays Bank, the Treasury has introduced Point of Sale (POS) Terminals at Kenneth Kaunda International Airport, Harry Mwaanga Nkumbula International Airport, Simon Mwansa Kapwepwe international Airport, Nakonde Border, and the Road Traffic and Safety Agency Offices in Lusaka and Ndola,” he said.



Mr. Kandeta said his ministry is keenly observing progress in financial management reforms.



“We’re delighted with the positive results recorded so far on non-tax revenue through the implemented payment systems hits government accounts immediately.



“ It is clear that as public confidence in the payment reforms grows, public officials will surely spend more time on their core functions instead of handling cash and getting exposed to the temptation of “fiscal sin,” he said.