The Insurers Association of Zambia (IAZ) is expecting the government to localize marine insurance as the Minister of Finance Margaret Mwanakatwe presents the 2019 national budget to parliament this Friday.

The association is also expecting the 2019 budget to address challengers being faced in the insurance sector.

This Friday, Finance Minister Margaret Mwanakatwe is expected to announce the 2019 national budget in parliament.

Association Executive Director Nkaka Mwashika says the association has made several proposals to the ministry of finance on what they would like to see in the 2019 budget.

Mr. Mwashika says it expects the minister of finance to address the accounting of the withholding tax on brokerage collected by the government.

He says withholding tax on brokerage is supposed to be withheld by insurance companies, adding that the move by government to be withholding the tax has resulted into a number of challenges in the insurance sector.

He says if the proposals are adopted will result in boosting government revenue.