Maravi

Govt ponders bill to change budget cycle

Govt ponders bill to change budget cycle
Written by Patson Chilemba
Friday, June 26, 2009 4:02:50 PM

VICE-President George Kunda yesterday announced that the government will introduce an amendment bill in the next sitting of the National Assembly to change the budget cycle.

Addressing the press at his office, Vice-President Kunda said the purpose of the amendment was to change the budget cycle so that the national budget could be approved before the commencement of the financial year.

"The financial year in Zambia is from 1st January to 31st December of each year. This means that the budget will be approved within 90 days before the commencement of the financial year, if the amendments are enacted by Parliament in the next sitting of the National Assembly which commences on 14th July, 2009," he said.

Vice-President Kunda said the amendments would improve budget implementation in that the government would have the whole year to implement it.

He said according to the current cycle, the budget was approved within the first three months of the commencement of the financial year, from January 1 to March 31.

He said this meant that there was only nine months for budget execution.

"This militates against the efficient implementation of developmental projects," Vice-President Kunda said. "As a result members of the public, parliamentarians and co-operating partners have called for the change of the budget cycle and government is merely responding to such calls."

Vice-President Kunda said the National Constitutional Conference (NCC) had already approved the amendment as recommended by the Mung'omba Constitution Review Commission.

He called upon all Zambians, civil society, political parties and parliamentarians to support the amendment.

Vice-President Kunda also announced that in addition to the Constitutional Amendments, government shall present a number of bills aimed at reforming the laws and improving governance. Vice-President Kunda said the bills include: the Non-Governmental Organisations bill; Public Private Partnership bill; Zambia Law Development Commission (Amendment) bill; Legal Practitioners (Amendment) bill; Zambia Institute of Advanced Legal Education (Amendment) bill and several other bills listed on the Gazette notice No.302 of 2009.

Labels: BUDGET, GEORGE KUNDA, NATIONAL ASSEMBLY

posted by MrK @ 3:03 PM