Government told to address domestic debt dismantling seriously.

The Private Sector Development Association has urged government to address the dismantling of domestic debt seriously.


Association Chairperson Yusuf Dodia told Money FM News in an interview with that the amount of money allocated in the 2020 national budget to settle the debt is too small as it comprises of about 20 %.


“When we look at the 2020 national budget, domestic debt owed to local suppliers and contractors is about 60 billion Kwacha and the amount of money allocated in the budget to liquidate the debt is 12 billion Kwacha which is 20 % of what is owed to local contractors. Mr Dodia said.


Mr Dodia said about 60 billion Kwacha is what is owed to contractors and suppliers of which 12 billion Kwacha is what has been set aside to liquidate the debt.
“20 percent of what is owed is a small amount of money it will not change the situation of the contractors and suppliers significantly” He said.
He has observed the need for the ministry of finance to pay significant amounts to contractors and supplies so that they can become compliant tax payers.

More From Author

ACCA

https://www.accaglobal.com/africa/en.html

Read More

Economist @ Money 02 May 2020

Join the host and guest as they look at various economic issues.

Read More

Women @ Money – “Strategic Planning”

Listen to the host Nkhonde Fumbeshi as she discusses “Strategic Planning” with Dr Freda Mwamba…

Read More

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

IZB profit up 18.74% to K604.33 million

IZB has posted a K604.33 million Net Profit after tax for the year ended 31st…

Read More

Indo Zambia Bank declares K50 million dividend cheque

This is part of the K125 million dividend, the highest ever for 2023 financial year.…

Read More

Economist expects currency to hit K15 between April, December, 2024

  The Kwacha has been experiencing an unusual decline since introduction of the Export Proceeds…

Read More