State reviewing fiscal systems to ensure proper spending
By BUUMBA CHIMBULU GOVERNMENT will soon be reviewing the financial systems to ensure that all funds are channelled to intended programmes while creating stability and fiscal space for accelerated development, says Minister of National Planning
And the Zambia Institute for Policy Analysis and Research (ZIPAR) says Zambia needs radical education sector reforms to drive industrialisation in the country.
Mr. Mulusa said this was also in a bid to ensure that the resources ended up in Zambia’s financial systems and help improve financial stability. “We need to confidently say that the investments we receive have helped us create decent jobs among other things,” he said.
He was speaking in Lusaka yesterday at the launch of the China-Africa trade developments and impacts: case of China and Zambia relations.
Mr. Mulusa also said it was important for Zambia and China to create a relationship that nurtured investment in manner that reduces stress on the country’s repayment obligations.
He also said there was need for Zambia to undertake a comprehensive, systematic and time-bound reviews of the education system as a way of promoting industrialisation.
And Chinese ambassador to Zambia, Yang Youming, said direct investment from China had made positive contributions to the development of Zambia. Mr. Youming said China had reached at a stage where it was able to share its experiences with developing countries such as Zambia.
Meanwhile, ZIPAR acting executive director, Caesar Cheelo, said the quality of education and skills development determined the competitiveness of workers and captains of industry to 2050.
He said the report on China Zambia relations pointed out that Zambia, like the rest of Africa was getting younger with an increasing productive age group which needed quality education and skills development to drive industrialisation.
“Zambia needs institutional reforms and mind set changes especially in the public sector, the first step can be to undertake comprehensive, systematic and time bound reviews of the education, skills development and talent search subsectors and systems benchmarking against the likes of China,” he said.