Pension payroll audit uncovers K388 million

Treasury prepares provisional budget

Post was last updated: June 30, 2020

Newly appointed Minister of Finance, Felix Mlusu, is expected to present to Parliament a provisional budget after the Treasury scrapped off the K2.2 trillion-budget presented two weeks ago by former minister, Joseph Mwanamvekha.

President Lazarus Chakwera yesterday appointed Mlusu and three other cabinet ministers following last Tuesday’s fresh presidential election.

This comes as the government’s financial year closes today and in a normal circumstance, a new budget is expected to be implemented from July 1.

Parliament is expected to make a determination today on when the Finance Minister could present the interim budget.

In an interview yesterday, Treasury spokesperson, Williams Banda, said a provisional budget had already been prepared.

“Treasury will prepare a provisional budget in line with the Macroeconomic fundamentals and aspirations of the government and the minister will present it to Parliament at an appropriate time,” Banda said.

He said the final amount of the budget will be known once the minister has completed scrutinising the interim budget.

Dean of Commerce at the Polytechnic, Betchani Tcheleni, said there should be no cause for worry, especially that a provisional budget has already been prepared.

“Through Parliament, the withdrawal of the previous government’s budget should not be a problem and a provisional budget is not that difficult to come up with. We should not have any financial challenges, not even technical challenges,” Tcheleni said.

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