By Staff Reporter
Finance minister Dr Situmbeko Musokotwane has cautioned public officials who are charged with the responsibility of managing public funds to exercise prudence and comply with relevant laws, regulations and guidelines.
And Dr Musokotwane has stated that the Ministry of Finance and National Planning released K8.8 billion to finance public service delivery, among them transfers, social benefits, implementation of various government programs, general operations and capital expenditure programs.
Commenting on a report March, 2024 budget analysis in a statement released by the Secretary to the Treasury, Dr Musokotwane advised that where responsible officers are in doubt of the appropriate procedure to follow or where there are no clear guidelines of how particular financial matters should be handled, guidance should be sought from the directorate of Finance in various Ministries, Provinces and Agencies ( MPAs) or the treasury, adding that in this way, the projects audit queries would effectively be minimized.
The minister explained that the public Finance management Act no 1 of 2018 and the disciplinary code and procedures for handling offences in the public sector and local government service, provided for various forms of financial misconduct without exception.
He reminded all heads of public institutions and other government establishment that funds allocated to their institutions and departments are for facilitating service provision and should be delt with in accordance with the relevant provisions.
Dr Musokotwane further called upon all oversight institutions to conduct appropriate reviews and ensure that funds released by the treasury to MPAs are managed in accordance with laid down guild lines, and utilized for the intended purposes.
According to the statement, of the K8.8 billion, K575.6 Million went towards transfers and social benefits, K1.2 Million to implementation of various government programmes and general operations and K507.9 Million to capital expenditure programs.
It stated that K 2.5 billion was spent on debt service (domestic and external), while the public service bill consumed K4 billion.
The treasury released K575.6 Million for transfers and subsidies and notable expenditure items under this category included K291.1 Million as a grant to the ZRA to support operations and resource mobilisation.
K145.4 Million for operations of public universities, student loans and scholarships while K120.8 Million to the local government equalisation Fund.
Others are K18.4 Million for the operations of grant aided institution.
On general operations, the treasury released a K1.2 billion to facilitate implementation of various programs and general operations under the government institution.
Under capita expenditure, the treasury released a sum of K507.9 Million towards capital expenditure.
Of the above amount, K260 million was for road infrastructure, K46.1 million for projects under the Rural Electrification Authority and K201.7 Million for various projects under MPAs.
On the wage bill, the treasure released K4 billion on costs relating to the public service workers among them health workers, teachers and Zambian diplomats in missions abroad.
On debts and other liabilities, K2.2 billion went towards payment of domestic debt service while K310. 6 Million was for external debt service.
