K1.8 Billion Released Since Start Of The Month, Of Which K419.3 Million Is For School Grants

K1.8 BILLION RELEASED SINCE START OF THE MONTH, OF WHICH K419.3 MILLION IS FOR SCHOOL GRANTS

Finance and National Planning Minister Dr. Situmbeko Musokotwane, MP, says the execution of the 2023 budget has commenced on a smooth note. Since the start of the year a few days ago, the Treasury has so far released a total amount of K1.8 billion to finance public service delivery.

The tabulation of funds released from 1st January to date, is as follows:

1) TRANSFERS: K419.3 million was released to finance school grants under the Ministry of Education and K217.8 million for the Secondary Schools and skills development training bursaries under Constituency Development Fund (CDF);

2) INFRASTRUCTURE DEVELOPMENT: K165.2 million was released towards road infrastructure rehabilitation and development;

3) DISMANTLING ARREARS: K200 million was released towards dismantling of arrears for suppliers of goods and services to the Government;

4) DOMESTIC DEBT SERVICE: K619.8 million was released to service the domestic debt.

5) EXTERNAL DEBT SERVICE: K48.8 million was released to service external debt (multilaterals).

6) GENERAL OPERATIONS: K169.4 million was released to finance service delivery in various Government institutions. Notable in this category, included:

i) K55 million released to the Ministry of Agriculture for prevention of Army Worms;

ii) K88.3 million for operations and other public sector programmes; and,

iii) K26.1 million released as donor funds to various institutions.

We reiterate the call by the Minister of Finance and National Planning for Ministries, Provinces and Agencies to ensure that funds are absorbed and utilised on budgeted programmes – in a timely, efficient and effective manner in order to achieve the Government’s set transformational objectives outlined in the National Budget and the Eighth National Development Plan (8NDP).

In conclusion, we confirm that the Minister of Finance and National Planning will host a Town-Hall Forum on the 2022 Budget and Economic Affairs Performance and 2023 Budget Execution, on Friday, 13th January, 2023, at Mulungushi International Conference Center, Mosi-O-Tunya Hall. The event will start at 08:45 Hrs and will be streamed live on the Ministry’s various social media platforms.

Keep in view.