By CHARLES MUSONDA
The Auditor General should issue a specific report on how the Patriotic Front (PF) government allegedly squandered the $750 million cash Eurobond, says UPND Lusaka district task force chairman Morgan Muunda.
In an interview yesterday, Mr. Muunda said the current power load shedding Zambia is experiencing and bad roads in many parts of the country are as a result of the alleged squander of the Eurobond by the PF regime.
He said of the $750 million Eurobond, Zambia Railways was allocated $120 million while $145 million was spent on clearing debt for the infamous formula1 roads initiated by the MMD government.
He said $100 million was spent on construction of the Kitwe-Chingola dual road and $65 million was allocated to the Pave Zambia roads.
Mr. Muunda added that Zesco infrastructure repairs gobbled a whopping $69 million while $186 million was spent on construction of the Kafue gorge lower hydro power station.
He said the University Teaching Hospital, Ndola and Kitwe Teaching Hospitals and Livingstone Central hospital got a total of $29 million while $20 million was allocated to the Development Bank of Zambia for small and medium enterprises.
Mr. Muunda said transaction costs (bank and legal fees) went up to $1.4 million and discount (advance interest was $14.6 million, giving a total of $750 million.
“Can the Auditor General please give Zambians a Report on how PF squandered this Eurobond cash?” he said.
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