Maravi

Magande pledges to release budgetary allocations on time

Magande pledges to release budgetary allocations on time
By Lambwe Kachali
Saturday March 22, 2008 [12:00]

FINANCE minister Ng’andu Magande has pledged to release budgetary allocations to all ministries and spending agencies on time in order to accelerate implementation of economic projects. But Kabwata Patriotic Front member of parliament Given Lubinda said it was disheartening that Magande had continued to use the contingency fund to balance the budget.

Parliament on Thursday approved the 2008 national budget with a caution to ensure transparency, accountability as well as reduction on over expenditure is seriously taken into account.

Magande said the ministry was conducting continuous analysis to reduce borrowing.
He said the government was working on mechanisms to harmonise debt service for both internal and external.

Magande said with regards to this year’s budget theme of “Unlocking Resources”, it would be prudent that Zambians benefited from such resources.
He said the major task ahead of the country was budget implementation and realisation of its expenditure.

Magande urged members of parliament to support the budget and that those attending the National Constitution Conference (NCC) should read the budget provision and ensure that resources were spent efficiently and effectively.

He further said that the government would continue with its tax agenda, besides improving the budget execution. But Lubinda said although the budget had passed with least amendments, there were a lot of underhand methods.

Lubinda said Magande was using the money allocated for unseen circumstances (contingency fund) to balance the budget.

“Mr Speaker, this House allocated K12 billion as contingency fund but Hon Magande came to this House again and sought K90 billion as supplementary expenditure, and yet this K12 billion was not used. The same happened last year where K25 billion was allocated as contingency fund but Magande mobilised K41 billion for the floods disaster instead of using the required vote,” Lubinda said. “Sir, what is the use of contingency vote? What is the major purpose for allocating this money?”

Meanwhile, Bweengwa member of parliament Highvie Hamududu advised Magande to use the contingency vote to create structural mechanisms to deal with floods.
Parliament adjourned sine die after approving the budget and passing the appropriation Bill.

Labels: 2008 BUDGET, GIVEN LUBINDA, MAGANDE

posted by MrK @ 9:10 PM