By SILUMESI MALUMO
MINISTRY of Finance and the Bank of Zambia must review requirements for the K10 billion stimulus package so that it directly benefits ordinary Zambians especially those in rural areas, former Minister of Finance Katele Kalumba has said.
The package, Dr Kalumba noted, should benefit those who have been critically affected by Covid-19
He said in an interview that people were still in dark on how they could access the facility.
Dr Kalumba said that people were eager to apply for the facility but there was no proper explanation in the public domain how the funds could be acquired.
He noted that South Africa had a similar programme and Government had ensured that ordinary people accessed it which could also be the case in Zambia.
“I think the central bank and the Ministry of Finance that are handling this process have not done things in the way they are supposed to be done.
“Today if you ask people who have been seriously hit by this Covid-19 especially in rural part of Zambia they have no clue what procedure should be used to access the facility. I think people need to be guided on how they can go about it,” Dr Kalumba said.
He said the central bank and the Ministry of Finance must step up and ensure that things were done in right manner.
Dr Kalumba said if people accessed the facility, they would enhance their business and contribute massively to the Gross Demotic Product (GDP).
“Since January our GDP has only grown by 0.2 percent compared to last year which stood at 4.3 percent and in 2018 it was 6 percent in same period meaning that the income has continued to go down.
“So it is up to the authorities to take charge and ensure that right things are done which will help to grow the economy. The facility if well harnessed will bring about economic growth,” Dr Kalumba said.
