Govt releases K115 million to FRA for outstanding dues

Chileshe Kandeta

The Ministry of Finance has released K115 million to the Food Reserve Agency (FRA) to facilitate the payment of some dues in the food reserve purchasing chain.

In a statement, Ministry OF Finance Public Relations Officer Chileshe Kandeta says a financing plan is underway to release an additional K85 million in a fortnight.

This comes a few days after the treasury released K400 million for the e-voucher and Farmer Input Support Programme to ensure the smooth management of the affairs of the agriculture input supply management system.

Mr Kandeta adds that government has obtained financing of US$40 million from EXIM Bank of India that will be used for agriculture mechanization.

He states that government is further facilitating a US$100 million public private sector investment into a tractor and agriculture equipment assembly plant in the Lusaka South Multi Facility Economic Zone.

Mr Kandeta further states that in 2018 government will continue with the implementation of the US$50 million Zambia Aquaculture Enterprise Development Project.

He says for the ministry of finance all these efforts are evidential to the government’s resolve and firm standing in diversifying the economy through labour intensive sectors like agriculture.