The Ministry of Finance has given the National Road Fund Agency (NRFA) K300,000 to help clear arrears owed to local contractors and consultants.
Minister of Finance, Dr Bwalya N’gandu said the release of the funds is not only a cash flow stimulus for the targeted recipients but a demonstration of government’s commitment to the domestic arrears dismantling strategy.
It supports the directive given by His Excellency Mr. Edgar Chagwa Lungu of the Republic of Zambia to fully implement the 20 percent mandatory subcontracting policy to empower and improve quality and capacities of local contractors…Said Dr. N’gandu
The finance minister said that going forward, the ministry through the NRFA, will continue to strengthen domestic resource mobilization effort for the road sector.
I am glad to note that we closed the year 2019 with an increased road tolling footprint across the country from 16 at the beginning of the year to 21 as of this month.He said.
Dr N’gandu stressed that strong internal systems and controls are maintained at NRFA in order to ensure targeted roads are duly completed and debt-dismantling strategy is not derailed.
Target beneficiaries are local road contractors, consultants under the Road Development Agency (RDA) and those under the Ministry of Local Government.