By Paul Shalala
(ZNBC News)
The Auditor General’s report has revealed poor financial and operational performance among parastatal bodies and other Statutory Institutions for the financial year ended 31st December 2021.
Dr. SICHEMBE says the irregularities total K3.4bn and they include Failure to remit statutory obligations and failure to collect revenue among others.
He says 23 entities have been cited out of the 27 that were audited during the period under review.
Dr. SICHEMBE has disclosed that the Electoral Commission of Zambia signed several contracts for procurement of various goods, works and services in amounts totalling $26.8m which were not in compliance with the Public Procurement Act and Procurement Regulations.
Dr. SICHEMBE says ZCCM-IH was involved in Questionable Purchase Price for Mushe Milling Limited at a consideration over and above the valuation amount.
The Auditor General has also revealed that ZESCO had some Poor Financial Performance with indebtedness of 188% in 2021 above the benchmark of 70%.
Other public entities cited are Development Bank of Zambia, Food Reserve Agency, University of Zambia and the Zambia Medicines and Medical Supply Agency.
Credit: ZNBC
