Post lies on national budget


And Mr Chikwanda said K11,698.9 million representing 22.0 percent of the budget would come from non-tax revenues with K7,645.3 from fees and fines, K1,164.4 million from exceptional and K2,889.1 million sourced from mineral royalty.

He also said K44, 618.6 million would be sourced from domestic revenue while K2, 509.5 million representing 4.7 percent of the budget would come from domestic borrowing.

Mr Chikwanda said total domestic revenue and domestic financing would contribute K44, 618.6 million.

The minister said total foreign grants and financing of the budget amounted to K8,517.2 million with grants at K545.5 million representing 1.0 percent of the budget. He said K7,971.3 million representing 15.0 percent of the budget would be sourced from foreign financing with K3, 954.3 million from programme loans and K4, 017 from project loans.

Meanwhile, Mr Chikwanda said financing would comprise of K6.07 billion in net external financing representing 2.9 percent of GDP.

Mr Chikwanda said the net domestic borrowing of K1.75 billion representing 0.9 percent of GDP while amortization was projected at K2.66 billion.

He said Government allocated K19.2 to the general public service with local government equalization fund getting K717 million, tripartite elections and referendum K727.9 million, public affairs and summit K82.6 million, external debt interest K3.64 million, domestic debt interest K3.55 million, sinking fund K536.2 million and awards and compensation K100, 000 million.

In the national budget for next year, Mr Chikwanda announced the allocation of K3.15 million to the defence and K1.840.56 million to public order and safety while K13.247 million would go towards economic affairs.

Under economic affairs K373.3 million would be channelled to empowerment fund, K5, 000 million to the Fisheries Development Fund while the Farmer Input Support Programme would get K1, 000 with the Food Reserve Agency getting K750, 00 million.

And Mr Chama said it is time the Post newspapers stopped misleading and spreading lies about government to the people of Zambia.

He said the Post was a wrong platform to trust over issues of governance because they have hidden themselves with an evil shell.

“I am not shocked with that headline that Chikwanda presents K48.8bn budget. Read the story is all about bitterness and hate. Who is telling them that this country has collapsed?” Mr. Chama asked.

Mr. Chama has since appealed to the people of Zambia to be wary of individuals and organisation promoting anarchy and evil against the leadership of President Edgar Lungu and the PF government by denouncing their evil schemes.

“This was a scheme to embarrass the Minister and President Lungu. But they have embarrassed themselves by lying to the people of Zambia over the Budget,” he said.

And National Revolution Party president Cosmo Mumba says the Post newspapers and its editors thrive on lies; malice and scandalizing other people, therefore he was not shocked that they had lied against the Finance Minister’s budget. Dr. Mumba said the Post got it wrong because they were specialised in lies.

“If they can lie about me that I collapsed and flown to India what can stop them from lying about Mr. Chikwanda and the Budget. They must learn to wait for things. I am the one laughing now because they have misled so many Zambians pamulandu wakubilima. Baleke ukubilima, let them stick to ethics of journalism in order to avoid such embarrassment,”he said.

Categorized | Home News

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