Off the wire
• China appreciates Malaysia's adherence to one-China policy in handling fraud cases  • Italian PM vows to save 500 mln euros a year through reform  • Syria lashes out at Turkish president as "tyrant"  • Beijing to bid farewell to coal mining in four years  • Iceland best in Nordic countries for cultural activity: report  • Chinese manufacturer builds Titanic replica  • Nigerian president urges Super Falcons to defend Africa's soccer title  • Putin appoints new economic development minister  • Another bird flu case suspected in central Japan  • Ethiopian Airlines to resume services to Conakry  
You are here: 　 Home

Zambia drafts law to curb revenue leakages

Xinhua, November 30, 2016 Adjust font size:

The Zambian government has drafted a law aimed at curtailing revenue leakages and enforcing punitive measures for public fund abusers, state media reported on Wednesday.

Minister of Finance Felix Mutati said the Public Finance Act once enacted by the Parliament would eliminate revenue leakages and wastage of public resources.

In remarks delivered at the start of a corporate governance convention organized by the Association of Chartered Certified Accountants (ACCA) and the Institute of Directors of Zambia (IODZ), the minister said the Act will also address issues raised in the Auditor-General's Report on misappropriation of public resources and financial irregularities.

"We are going to carry out the necessary arrangement to the Public Finance Act in order to make it stronger so that as the Auditor's report comes out we are able to take those actions from it," he was quoted saying by the Times of Zambia.

According to him, the Auditor General's Report has been saturated with misappropriation of public resources, adding that the Public Finance Act would curtail such particular behavior of misappropriation of funds. Endit