Q FM Africa's Modern Radio
Secretary to the Treasury Fredson Yamba
The Treasury has released K4.32 Billion to step up the development drive and infuse a positive trajectory in the implementation of Governments poverty reduction and job-creation programmes.
As at 31stJanuary2015, the Treasury raised K2.75 Billion in terms of revenues and grants, while releases to Ministries Provinces and Other Spending Agencies amounted to K4.32 Billion.
The difference between revenue and expenditure was bridged through programmed financing and Project Financing from Cooperating Partners.
Secretary to the Treasury Fredson Yamba says projected revenue and grants receipts for January2015 were K2.5 Billion, however, an amount of K2.75 Billion was received, reflecting an over performance of 10.27 percent on this parameter.
Mr. Yamba says the total domestic revenues consisting of tax and non-tax revenue amounted to K2.74Billion, of which tax revenues amounted to K2.47 Billion while non-tax revenues totaled K274.55 Million.
Mr. Yamba states that K4.32 Billion released by the Treasury for development programmes & governmental operations was above target by 16 percent.
He says the Treasury gave the Public Service Pensions Fund [PSPF] K117 Million to facilitate the payment of benefits to retired public service workers, while the Ministry of Community Development Mother and Child Health received K12.5 Million for the Social Cash Transfer Programme.
He says this is consistent with the Government’s desire to stimulate growth and create jobs through high impact socio-economic developmental programmes.
He adds that developmental programmes related to electrification, water and sanitation, and railways [TAZARA] also received at total of K808 Million.
The Secretary to the Treasury has revealed that debt service and amortization payments to talled K302 Million of which K141.27 Million was for internal debt service, K128.89 Million external debt service and, K31.89 Million for amortization.
Meanwhile Mr. Yamba has said the Government is concerned with emerging incidences of avoidance of tax obligations by some shop owners.
Mr. Yamba says Government does not want to continue losing the revenue which is needed to fulfill the promises made by leaders during the Presidential by-election campaign trail, adding that, to amalgamate the resource-base for financing employment creation, poverty reduction and social sector programmes, it is a duty of every person in a business which meets the relevant threshold, to issue official sale receipts and properly recorded tax invoices.
Mr. Yamba has since appealed to the general public to be vigilant and join in guarding public resources by ensuring that as much as possible, receipts generated from cash registers are obtained from traders so that the correct tax revenue is collected for the benefit of society.
This is contained in a statement made available to QFM News by Ministry of Finance Public Relations Officer Chileshe Kandeta.