The Civil Society for Poverty Reduction (CSPR) has commended government for presenting the Public Financial Management Bill No. 17 to Parliament, which it says will strengthen accountability, oversight, management and control of Public funds once enacted.
Finance Minister Felix Mutati on Tuesday, presented to Parliament the Public Financial Management Bill No. 17 which is the first among a list of legal reforms the government has earmarked to undertake to enhance public financial management and budget integrity as pronounced in the 2018 national budget address.
CSPR Executive Director Patrick Nshindano says the Public Finance Management Bill, which aims at providing for an institutional and regulatory framework for the management of public funds will lead to the repeal of the current Public Finance Act.
Mr. Nshindano has since called upon Members of Parliament to swiftly enact the bill into law in order to strengthen public financial management.
He notes that public finance mismanagement has been a perennial problem in Zambia, with the Auditor General’s Report revealing every year how colossal sums of money are mismanaged by those entrusted with the responsibility of managing public funds.
Mr Nshindano says the problem of rampant abuse of public funds has been worsened because little or no corrective measures are taken against erring officers.