Minister Bwalya Ng’andu outlines his achievements

Minister Bwalya Ng’andu outlines his achievements

 

Facing mounting criticism on his failure to control the depreciation of the Kwacha, failure to secure IMF bailout package and other economic failures, minister of Finance Bwalya Ngandu has tabulated what he considers to be his achievements so far👇

FIRST LINE MEASURES IMPLEMENTED BY MINISTER OF FINANCE DR. BWALYA NGANDU

K57 Million Epidermic Preparedness Fund under the Ministry of Health.

K659 Million for Contigency and Response Plan under the Disaster Managent and Mitigation Unit(DMMU).

Mobilise Funds through local and international stakeholders. Apply to World Bank and IMF, from the COVID-19 Support facility

Release K2.5 Billion to reduce domestic arreas owed to domestic suppliers of goods and services, pension arreas for pensioners and retirees.

K140 million to local contractors in the road sector.

TAX RELIEF

Suspend excise duty on imported ethanol, alcohol-based sanitizers and related medicine.

Ease process of claim of VAT Refunds on imported spare parts, lubricants and stationary

Suspend import duties on importation of concentrates in the Mining sector.

Suspend export duty on precious metals and crocodile skins.

USE OF DIGITAL FINANCIAL SERVICES

No charges for money transfers for person-to-person electronic money transfers.

Agents dealing with small-scale farmers to handle more transactions and less limits in the Agriculture sector.

Reduce processing fees for the Real Time Gross Settlement System for banks.

Reduce provision requirements for bank loans

Ecourage retail chains and supermarkets to buy local products.

FIRST LINE MEASURES IMPLEMENTED BY MINISTER OF FINANCE DR. BWALYA NGANDU

K57 Million Epidermic Preparedness Fund under the Ministry of Health.

K659 Million for Contigency and Response Plan under the Disaster Managent and Mitigation Unit(DMMU).

Mobilise Funds through local and international stakeholders. Apply to World Bank and IMF, from the COVID-19 Support facility

Release K2.5 Billion to reduce domestic arreas owed to domestic suppliers of goods and services, pension arreas for pensioners and retirees.

K140 million to local contractors in the road sector.

TAX RELIEF

Suspend excise duty on imported ethanol, alcohol-based sanitizers and related medicine.

Ease process of claim of VAT Refunds on imported spare parts, lubricants and stationary

Suspend import duties on importation of concentrates in the Mining sector.

Suspend export duty on precious metals and crocodile skins.

USE OF DIGITAL FINANCIAL SERVICES

No charges for money transfers for person-to-person electronic money transfers.

Agents dealing with small-scale farmers to handle more transactions and less limits in the Agriculture sector.

Reduce processing fees for the Real Time Gross Settlement System for banks.

Reduce provision requirements for bank loans

Ecourage retail chains and supermarkets to buy local products.

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