Q FM Africa's Modern Radio
Dr. Patrick Matibini after launching the handbook
Finance Minister Felix Mutati says despite government implementing major Public Financial Management reforms over the past seven years, the nation continues to face significant challenges in this area.
In a speech read on his behalf by Ministry of Finance Accountant General Dr. Dick Sichembe during the official launch of the Public Financial Management Handbook for Member of Parliament and staff funded by the European Union, Mr Mutati says government has been implementing various reforms aimed at managing public resources with diligence, prudence and accountability.
He says the reforms include reviewing the Public Finance Act of 2004 aimed at strengthening accountability, oversight, management and control of public funds.
Mr. Mutati says other reforms include the enactment of the Planning and Budgeting Bill, which he says will be critical to ensuring adherence to planned expenditure, thereby improving transparency.
Speaking at the same event, Speaker of National Assembly Dr. Patrick Matibini says as part of efforts to promote prudent resource utilization, the National Assembly and its committees are adequately equipped in their oversight role, with the Parliamentary Budget Office being put in place.
Dr. Matibini says to this end, the European Union has committed resources to ensure that the Budget Office performs its functions effectively and efficiently.
And European Union Ambassador to Zambia Alessandro Mariani says the active engagement of the National Assembly in the budget process is essential to promote good governance, fiscal transparency and accountability.