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Saturday, 5 November 2011

End of Parastatal Madness?

"Business as usual is over, we all have to pull our socks and roll our sleeves to sustain our institutions. As ZWAMA, you will be entitled to settle all your costs and build a fund that will enable you buy the equipment you require to operate to full capacity...To survive, there is need to change…from 2012 we expect you to be independent and if you want salary increment, work for it. Every deductions taking place whether National Pensions Scheme Authority (NAPSA) or Zambia Revenue Authority (ZRA) should be remitted.."
Commerce Minister Bob Sichinga is drawing a line on parastatals and regulators that have depended on Government grants. From 2012 they are expected to sustain themselves to allow more more to be channelled to poverty reduction. The announcement was prompted by Zambia Weights and Measures Agency (ZWAMA) predicament of being in need of about US$ 1.2 million to meet its capital requirement in the medium term and has a statutory debt of US$1m.

If this was done it would save Government huge sums of money. We have chronicled the waste of parastatals through our series - "parastatal madness". See the related posts below.

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1 comment:

  1. So every Government regulatory agency will turn around and tax the business sector to sustain itself? Is this really a good idea? Then what follows shortly after is it loses the regulatory aspect and becomes just another tax. On top of this there will be little or no Government oversight of how the resulting income is spent.


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