Former Finance Minister Dr. Bwalya Ng’angu has dispelled claims that the new government has inherited an empty treasury.
Dr. Ng’angu says the claims that the country’s coffers are empty is lack of clarity, and has since challenged the UPND government to state the exact figures the new government found in the reserves.
Speaking to journalists in Lusaka today, Dr. Ng’angu said with the sustainable increase in the price of copper during the first half of this year and running into the third quarter of the year, government saw a consistent rise of the foreign reserve position to over US$1.6 billion.
He wondered how a government that is claiming that it has no money is fully functioning and performing all monetary obligations such as collections of tax and financing programmes and enumeration and has also even over performed with regards to meeting the tax collection target for the year 2021.
“The consequence of this would be seen in government’s inability to finance its operations, programmes and enumeration. Can anyone honestly say this is the stage that this country has reached?” Dr. Ng’angu wondered.
And Dr. Ng’andu has clarified that the PF government did not hide any debt adding that declaration of a debt figure that is lower than the actual debt is meaningless and self- deception because the remedy will not be adequate to deal with the problem at hand.
“The proposition that there is hidden debt somewhere suggests that somebody has found what was hidden because it goes without saying that if you have not found what was hidden, then you do don’t know that it was hidden” he said adding that people are keen to know the creditors and the amounts.
He further stated that it is not clear what the facts are that are informing the view that the debt numbers are understated and further said claims that the previous government owes $38 Million in total is untrue.
And regarding the pending International Monetary Fund (IMF) package whose discussions government will soon commence, Dr. Ng’andu said it will be interesting to see what numbers will be taken to the table but cautioned against cooking up numbers considering that the IMF team is highly qualified and professional and are not easy to dupe.
Meanwhile, Patriotic Front Vice president Given Lubinda who was speaking at the same event advised the new government not to make excuses, but endeavour to deliver on their many promises they made to the Zambian people.
He said Zambians are for example, keen to see the actualisation of the free education promise, among other developmental programmes hence the need for the new government to ensure they stop creating a platform for giving excuses at the expense of working.
