MPs Criticize Government’s $108 Million Borrowing Plan

By Staff Reporter

 

Mufulira Central Member of Parliament Golden Mwila has described as reckless Government’s intention to borrow 150 million US Dollars from Africa Development Bank to ensure the 2024 national budget does not collapse.

Mr. Mwila has reminded the UPND Government that while in opposition, UPND stated that it would put a halt on borrowing once they form government which has not been the case as they have continued on the same trajectory.

 

And Mr. Mwila has questioned why a country like Zambia should be struggling to raise 150 million US dollars further calling for the clean-up of the revenue collection to ensure revenue collection lines do not underperform.

 

Meanwhile Mr. Mwila has bemoaned the fact that the said money is meant for consumption and for capital projects that can create earning capacity. He has urged government to borrow for capital projects so that the country has enough production capacity to create jobs.

Mr. Mwila was speaking in parliament when the planning and budgeting committee moved a motion to adopt the report on the 2024 annual borrowing plan second amendment. 

 

Meanwhile, Lunte Constituency Member of Parliament, Mutotwe Kafwaya, also condemned the borrowing plan, describing it as reckless. 

 

He argued that the amount being borrowed is negligible for a country like Zambia, which loses significant revenue through illicit financial flows.