Controlling officers to approve civil servants loans

 Controlling officers to approve civil servants loans

Secretary to the Cabinet Simon Miti said all loan applications by civil servants should be approved by the controlling officers if they are to be repaid through the Payroll Management and Establishment Control (PMEC) system.

Dr Miti  said the debt swap that the government is implementing is a mechanism intended to relieve civil servants of the debt they owe financial institutions.

Dr Miti also urged all responsible officers to effectively manage loan applications to ensure employees are within the laid down parameters for them not to fall back into the debt trap

“Ministries of finance and Commerce Trade and Industry must be urged to take advantage of the recent appreciation of the kwacha, to work on mechanisms that will promote improvements in the balance of trade, the mechanisms will sustain the strength of the kwacha,” he said.

Dr Miti said that he is confident the Ministry of Finance will closely monitor the performance of the local currency on the Foreign Exchange Market.

“I want to  encourage line ministries and institutions to put up measures that will help avoid destabilization of the economy from the civil unrest that happened in South Africa,” he said.

Dr Miti said the ministry of fisheries and Livestock should continue to engage stakeholders on how best to reduce and sustain prices of commodities, with regard to the suspension of exports on day old chicks and stock feed.