Africa-Press – Zambia. Zambia’s newly-appointed finance minister Situmbeko Musokotwane has said that Government will embark on an aggressive economic reform programme for the country with the aim to record production of 3 million metric tonnes of copper per year, a move that will provide economic activities, more forex and employment.
Speaking to the media after his appointment, Dr Musokotwane said that the Country is under economic stress and that under the UPND government, money will be utilised carefully and that the Budget is under stress and currently a huge chunk is going to emoluments and servicing debt.
“Unless we do something to the budget, then the budget will be mainly for paying salaries and also servicing debt,” with nothing left over to invest in developing the country, Musokotwane said
Dr Musokotwane pledged to conclude talks with the IMF on a lending programme by October and that Government is optimistic that it will conclude negotiations for an IMF package by September and October.
Om Debt Consultation, Dr Musokotwane said that a recommendation will be made to the President on whether the government will continue to engage a French firm Lazard Freres, debt advisors that were engaged by the PF government once its value is established.
Dr Musokotwane said that Government will ride on the heightened investor trust and confidence that is being shown and revamp production in Muilty facility Economic Zones (MFEZs) and introduce new government reform programmes is to improve revenue collection by the Zambia Revenue Authority (ZRA), with the focus to ensure that everyone enjoyed their citizenship as Zambians.
Dr Musokotwane warned that the Ministry of finance officers will not be protected if found wanting on corruption matters and that there shall be no useless seminars and trips for government workers.
Asked on the position of the Bank of Zambia Governor, the Minister said that the role of the appointment of Bank of Zambia governor is the role of the President.
