Don’t waste public funds – warns Secretary to Treasury

Banner 3
Banner 3

Government has devised and released guidelines for the use of public resources during the period of national mourning and transition following the death of President Michael Sata on October 28.

Secretary to the Treasury Fredson Yamba disclosed this when he addressed a forum of more than 250 Central Government and Public Sector Officials  on measures required to maintain economic stability and safeguarding public resources and assets during the transition period .

Mr Yamba reminded the participants that as custodians of public resources and assets, they had a duty to maintain the confidence of the public through prudential management of funds and development of processes which will strengthen management of public resources and adherence to laid down procedures.

In a statement to ZANIS in Lusaka this evening, Mr Yamba said the Ministry of Finance and the Bank of Zambia (BOZ) will continue to monitor all economic parameters such as the exchange rate and the flow of foreign exchange to ensure that stability is maintained.

He warned that misappropriation, misapplication and misuse of funds will not be tolerated and urged Controlling Officers and Heads of Public Institutions to ensure that strict financial and asset management guidelines are observed.

Mr Yamba pointed out that there was need to ensure that the economic fundamentals are maintained during this period as instability may be costly and could take time to address.

 Meanwhile ,  Mr Yamba disclosed that he had requested the Road Traffic and Safety Agency (RTSA) and the Controller of Government Transport to guard against change of ownership of government vehicles and curb general misuse and abuse of motor vehicles and fuel during the 90-days transition period.

 Mr Yamba implored financial managers in the civil service to honour the late President Sata for his principled approach to financial discipline and prudential administration of public resources by stamping out financial indiscipline during the transition period.