Take Action to Regain Market Confidence – CSOS Urge Govt

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Money FM Zambia, May 27, 2019

A group of 7 Civil Society Organisations has advised that government should work towards improving the confidence of investors and corporation partners in markets.

Representing the CSOs, Consumer Unity and Trust Society (CUTS) Centre coordinator Chennai Mukumba says this can be done through robust Financial Management.

Ms. Mukumba notes that government should implement the financial oversight reforms, improve transparency on pipeline debt and revise the Medium-Term Expenditure Framework.

She adds that the Loans and Guarantees Act and the Planning and Budgeting Bill respectively should be revised and enactment to achieve the objective.

“Secondly, Government needs to implement a genuine austerity budget for 2020 but also begin to undertake austerity measures immediately. Social protection spending to Zambia’s most vulnerable citizens, however, must be protected, meaning that Government must look to cutting emoluments, reducing capital investment (such as suspending plans to launch a national airline), and streamlining social spending where there are opportunities. Examples include continuing to reduce the Food Reserve Agency reserves as well fully rolling out the e-voucher FISP programme.” She notes.

The other Civil Society Organisations Include; Centre for Trade Policy and Development, Alliance for Community Action, Oxfam, Action Aid, Civil Society for Poverty Reduction and Non-Governmental Gender Organisations Coordinating Council.

This news can also be viewed at: http://www.moneyfmzambia.com/

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