Mufulira Central MP Saddened That Increase In MPR Will Disadvantage Civil Servants That Have Loans With Banks

By Staff Reporter 

Mufulira Central Member of Parliament Golden Mwila has condemned the increase in the Monetary Policy Rate by the Bank of Zambia BOZ saying it will work to the disadvantage of majority civil servants who have loans with various banks.

Mr. Mwila explains that with an increase in the Monetary Policy Rate, interest rates on loans will also go high implying that the K500 Salary increment that Government has given to Civil servants will have little to no significance.

Speaking on Mafken FM’s Chit chat review, Mr. Mwila asserts that civil servants are living in perpetual debt a situation he described as sad and unsustainable.