President Lungu to cut salaries for highly paid government workers by 10 to 20 percent.

President Edgar Lungu has decided to cut salaries of highly paid public workers to cushion impact on the vulnerable due to recent tariff hikes.


According to a statement obtained by Money FM News, President Lungu says the cut is with immediate effect and starts with him as President and his cabinet Ministers.


“I have decided to cut salaries of highly paid public workers to cushion impact on the vulnerable due to recent tariff hikes” the president said.
“The cuts start with me as President and my Cabinet Ministers with immediate effect”
The Head of State said slashing of salaries for highly paid public officers in both government and Parastatal sector is aimed at cushioning impact on citizens arising from the increase on fuel prices and electricity tariff announced by the Energy Regulation Body.


“The money realized will go into cushioning the impact on the vulnerable in society” the President said.
He adds that Public officers with highest salary will have their salaries cut by 20% whereas those in the middle will have theirs reduced by 15%, and those in the lower will be down by 10%.


“Much as the increase in the pricing of the two essential commodities was inevitable, the Zambian people needed a cushion, hence my directive. The money realized from this decision will go towards ameliorating the impact that the increase would have brought on the masses.” The Head of state added .

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Your email address will not be published.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

EAZ underscores urgency of addressing pressing economic issues ahead of Summit

  There is need to navigate the economic headwinds with determination, resilience, and a shared…

Read More

Mfuwe International Airport to be temporarily closed for rehabilitation

Mfuwe International Airport infrastructure has recorded marked deterioration. During the rehabilitation period which is expected…

Read More

ZICA calls for recruitment of registered accountants in Councils

Recruitment of registered accountants in local authorities will lead to significant improvements in financial management…

Read More