More needs to be done in public finance management – Yamba admits

Secretary to the Treasury Fredson Yamba says despite laudable economic achievements recorded in the country, much more needs to be done in the area of public financial management.

Speaking during the launch of the public financial management capacity building programme in Lusaka today, Mr. Yamba says public financial management reforms are important because the manner in which government uses financial resources has a direct impact on the social and economic development of the country.

Mr. Yamba notes that if government resources are wasted, misappropriated or stolen, this means that the delivery of public services such as health, education, water and sanitation, roads, power will be adversely affected.

Fredson Yamba

He says considering the significance of public financial management to the country, government has been implementing public financial management reforms since the year 2000.

He adds that the implementation of these reforms requires ample attention to capacity building to prepare the Ministry of Finance and other government institutions for its changing tasks and to prepare its staff for the new job requirements.

Mr. Yamba explains that the project will follow a systematic and well structured approach for training and capacity building with a strong focus on competency development of the staff of the Ministry of Finance.

Speaking at the same event, European Union Head of Operations Aad Biesebroek says the Capacity-building to Ministry of Finance is a component of a broader programme supporting Public Finance Management (PFM), accountability and Statistics in Zambia approved in July 2013 for a total amount of 13 million Euros.

Mr. Biesebroek says the Capacity-building to Ministry of Finance support project amounts to 1.1 million Euros over a period of 3 years.

He says he is confident that the selected consortium formed will deliver this project successfully.