PF govt agrees to borrow another $300 million

PF govt agrees to borrow another $300 million

The PF cabinet has agreed to borrow another US$ 275 Million form China and an additional US$ 65,000,000 from the World Bank.

According to a statement issued by state House spokesperson Amos Chanda, the $ 275 Million will be used to build houses for soldiers.

But just last month at his so-called press conference, president Lungu said that no additional contracts should be entered into until the economic crisis caused by his poor leadership ends.

This is what he said:

‘In light of the recent economic challenges, the financing of the ambitious infrastructural development programme has to be re-aligned to ensure budgetary sustainability. To this effect I am directing that: All Government Ministries, Provinces and Spending Agencies should cease the procurement of, or the entering into contracts for, new works including in the road sector. Therefore, focus should be on the completion of on-going projects; All Government Ministries, Provinces and Spending Agencies to engage the Attorney-General to review committed projects signed but not yet commenced with a view to defer where appropriate.’

Edgar_Lungu_January_2015But yeah, this is Kaminaminsa. He was just reading something written for him and can’t even remember what he was reading. These are the inconsistences we talk about. Why, for example suspend the establishment of an airline because you say you have no money just to go China to borrow money for more construction works? Why not use this money to finish ongoing projects that Lungu has put on nice due to lack of money? Indeed president Edgar Lungu has no vision.

 

On the other US$ 65,000,000 loan, Chanda explained that it will be used to support the implementation of girls’ education and women’s empowerment and livelihood project countrywide. Girl’s education? What is the role of the ministry of education? What happened to the budgetary allocation? This is borrowing money without a purpose. What women’s empowerment projects has the PF lined up for them to start borrowing money?

 

Chanda also announced that cabinet rejected a proposal to construct a new state House. Is this really something to announce to the country? Why did his ministers even raise it?

This is the typical foolishness of creating a problem then line up puppets to praise you when you ‘resolve’ it.

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