EconomyLocal News

Govt saluted over stimulus package

By JACKSON MAPAPAYI
AN Economist in Solwezi has welcomed the policy interventions that Government has put in place to combat COVID-19.
Robert Kahemba said the measures would provide relief and ensure sustainable amount of liquidity in the economy.
Mr Kahemba’s comment comes in the wake of the Bank of Zambia’s release of K10 billion to commercial banks for lending to Small and Medium Enterprises (SMEs) at affordable rates.
He noted therefore, that BoZ should facilitate for commercial banks to lower interest rates so as to promote increased borrowing for SMEs and enterprising households.
“And since it is a directive, all commercial banks should oblige and provide loans at very affordable rates and it must be adhered at all costs,” he said.
Mr Kahemba said in line with the President’s call ,the ministry of Finance should ensure that priority was given to SME’s such as those running schools, gymnasiums, restaurants, bars and nightclubs whose operations had been suspended.
He further called for consolidation of internal controls to ensure that funds were channelled according to the guiding provisions.
He also implored Zesco to explore all possible ways to ensure that adequate electricity was supplied to support the section of the workforce that are were working from home.
“Government should as well continue exploring other measures towards cushioning the economy from the effects of COVID-19,” he said.
Mr Kahemba has since commended President Lungu for fostering social safety net policies that were aimed at paying off some pensioners as well as continuing to explore more social security policies under the social welfare umbrella.

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