Maravi

Magande exalts high moral standards of First Republic leaders

Magande exalts high moral standards of First Republic leaders
By Mwala Kalaluka
Saturday January 19, 2008 [03:00]

FINANCE minister Ng’andu Magande yesterday praised the leaders of the First Republic for the high moral standards they exhibited in the management of public financial resources. And Parliament has voted back all the members of last year’s Parliamentary Public Accounts Committee (PAC).

Moving a motion urging the House to constitute the Public Accounts Committee for the second session of the Tenth National Assembly, Magande said after noticing some weakness, the government was taking measures to improve financial management in the public service.

He said it was embarrassing to the government that K11 billion worth of revenue was misappropriated, as reported in the main report of PAC for 2007.

“There are many members of parliament who have been permanent secretaries or controlling officers before. I am one of them. We are all aware of the weaknesses of the financial management systems in the past during our service,” he said. “During the First Republic, funds were spared from fraud by the high moral standards of the public servants of that time.”

He said it was unfortunate that some public servants, especially in the Third Republic, later took advantage of the weak financial systems to exploit public funds.
“It was common knowledge during the Third Republic that some ministers were depositing public funds in their personal accounts and siphoning the interest for personal use,” Magande said as he looked towards the opposition side of the House. “Regrettably, some of those involved in these malpractices have even offered themselves for elections to high offices in our land.”

He said it was disheartening that some former government officials that had been cited in the Auditor General’s report of having misappropriated public funds were sitting in Parliament to date.

Magande said the government would continue to implement the Public Expenditure Management and Financial Accountability (PEMFA) reforms this year.
“The government is fully aware that without financial discipline, the attainment of the objectives and goals of the Fifth National Development Plan and ultimately, the Vision 2030 will be impossible,” he said.

And Magande, who commended last year’s PAC for the role, it played in enhancing Parliament’s oversight role said the committee would continue to receive valuable support from the government through the office of the Auditor General.
Magande also said the K900 billion that was withdrawn after it was found lying idle in the commercial banks was in safe custody at the Bank of Zambia.

Labels: MAGANDE, PAC

posted by MrK @ 4:58 AM