Maravi

(LUSAKATIMES) President Sata dissolves ERB board

President Sata dissolves ERB board
TIME PUBLISHED - Friday, September 30, 2011, 1:25 pm

Republican President Michael Sata has with immediate effect dissolved the Energy Regulation Board (ERB)board. President Sata has since appointed a commission to be headed by Patriotic Front General Secretary Wynter Kabimba to probe corruption allegations surrounding ERB.

He says there is need to ascertain why the prices of petroleum products in the country have continued to sky rocket.

The President has also demanded reports on the sale of Finance Bank Zambia Limited to First National Bank of South Africa and the National Pension Scheme Authority (NAPSA) Zambia National Building Society (ZNBS) deal to be availed to his office within 30 thirty days.

The $98 million NAPSA deal recently raised questions from several members of the public over the manner the transaction was handled.

President Sata was speaking at State House this morning when he swore in all appointed cabinet and deputy ministers.

And President Sata has urged all those appointed in various ministerial positions to work to the best of their ability in order for Zambians to benefit from their services.

[QFM]

Labels: ERB, MICHAEL SATA, ZNBS

posted by MrK @ 1:17 PM