(LUSAKAITMES) President Banda launches national development plan

President Banda launches national development plan
Friday, February 4, 2011, 14:46

Government has projected to reduce extreme poverty levels from 37 per cent to 29 per cent by the year 2015. Rural poverty is also set to reduce from 77 per cent to 50 per cent during the period under review.

The projections have been set in the Sixth National Development Plan launched by President Rrupiah Banda in LUSAKA on Friday.

In his address during the launch, President Banda said the SNDP will also continue to address bottlenecks in the economy, in a bid to accelerate social economic transformation.

President Banda said the plan also seeks to create jobs, wealth and income levels in the country.

And One hundred and 32 trillion Kwacha will be spent to implement the Sixth National Development plan in the next five years.

President Banda says one hundred and three trillion Kwacha will be raised from domestic resources, while 29 trillion Kwacha representing 22 percent of the total cost, will be sourced from co-operating partners and external borrowing.

President Banda has urged the Ministry of Finance to strengthen domestic revenue collection and public expenditure so that the SNDP can be effectively implemented.

The President also noted the need to strength linkages among implementing agencies, if the plan is to be effectively executed.

Mr. BANDA has also challenged the private sector to play a key role in growing the economy, as stipulated in the plan.

He has called on co-operating partners to provide their usual support towards the plan.

And Finance Minister, Situmbeko Musokotwane says Government aspires to grow the economy in the next five years of the plan, by an average seven percent.

Dr Musokotwane has however urged policy makers and Government agencies to understand the plan for effective implementation.

He has also announced that Government will embark on a country wide campaign aimed at sharing and helping citizens understand the plan.

And Secretary to the Treasury, Likolo Ndalamei thanked members of the public who contributed in the drafting of the SNDP.

And Bank of Zambia Governor Caleb Fundanga says the central Bank will ensure the financial frame work is in the right place during the implementation of the Sixth National Development Plan.

Dr. Fundanga says the Plan is good for the country as it will be a good for the country’s development agenda.

Dr. Fundanga says the Central Bank will also ensure there is low inflation during the implementation of the plan.

And UN Country coordinator Kanni Wignaraja says UN agencies in Zambia will fully take part in the implementation of the Plan.

Ms Wignaraja says the UN will specifically involve itself in the Education and Health Sectors.

[ZNBC]