ZICA asks govt to eliminate unnecessary expenditure in the 2018 Budget

The Zambia Institute of Chartered Accountants (ZICA) is calling on the Ministry of Finance to eliminate unnecessary expenditure in the 2018 National Budget in order to improve the management of Government resources.

ZICA’s Taxation Committee member Victor Nyasulu has observed that the Auditor General’s Report continues to highlight excessive internal control environment and financial irregularities in Ministries, Provinces and other Spending Agencies.

Mr. Nyasulu says the irregularities indicate that the country is wasteful which should not be the case for a poor country like Zambia.

He has since recommended that in the 2018 National Budget, Miministries,Provinces and other Spending Agencies should critically analyze and evaluate their expenditure needs to eliminate unnecessary expenditure and excessive administrative overheads which are spent at the expense of the stressed taxpayers and the poorer segment of society.

Mr. Nyasulu is convinced that Ministries,Provinces and other Spending Agencies can restructure and trim down their current spending given the high levels of wasteful expenditure revealed by the annual Auditor General Reports.

He says this measure must be aimed at identifying wasteful expenditure and institute cost saving measures in public expenditure.

This is contained in a statement made available to q-news by ZICA media and communications officer King Syacika.