Eighteen parastatals had wasteful expenditure of k 396 million in 2014, the auditor general’s report has revealed.
Among the 18 institutions cited for irregularities are Copperbelt University (CBU), Energy Regulation Board (ERB), Food Reserve Agency (FRA), Judiciary, Road Development Agency (RDA), ZESCO Limited, Zambia National Broadcasting Corporation (ZNBC), Water Resource Management Authority (WRMA) and the Citizens Economic Empowerment Commission (CEEC).
The parastatals have been cited for poor financial and operational performances in the audited entities during the period January to 31st December 2014.
Office of the Auditor General public relations officer Ellen Chikale confirmed this in a statement.
She also said the Auditor General’s report highlighted non-remittance of statutory contributions amounting to K876 million while inadequately supported payments stood at K15.5 million. And the Auditor General’s report has cited irregular payments and unretired imprest amounting to K2.4 million and K1.8 million respectively.
Other issues raised in the report involve weaknesses in corporate governance, weaknesses in implementation of ICT systems and weaknesses in contract management as well as failure to produce financial statements and lack of title deeds for properties that should be owned by various institutions.
– Courtesy MILLENNIUM RADIO 90.5