Q FM Africa's Modern Radio
The Zambian Government has from February 2016 to date injected a financial investment of US$3.2 billion in the operations of the Tanzania- Zambia Railways Authority (TAZARA).
Works and Supply Minister Kapembwa Simbao has disclosed that a total of US$11.2 million of this money was disbursed to dismantle salary arrears for October to December 2015 as well as pay salaries for January to April 2016 for TAZARA employees on the Zambian side.
Addressing a media briefing in Lusaka this morning, Mr. Simbao also disclosed that a total of K34.5 million of the US$3.2 billion has been used to pay 980 retirees their retirement packages.
Mr. Simbao says a further US$2 Million of this money was paid to various fuel debtors TAZARA owes in both Zambia and Tanzania.
He explains that the financial investment the Zambian government has made in the company and the employing of a substantive Managing Director is meant to make the railway company viable.
And Mr. Simbao has expressed government’s regret that Fastjet UK is shelving its hinted investment portfolio in Zambia until the economic situation in the Country improves.
Mr. Simbao has however; expressed delight that the ban on Zambian owned planes flying in the international airspace will be lifted next month.