BUDGET PREPS

INDUSTRY players and all stakeholders should scale up their efforts towards the 2019 National Budget consultative process currently underway in provincial centres of the country. Since the announcement was made last month, there has not been much publicity about this important national assignment which ordinarily should cut across all strata of society. Usually, loud and belated comments are made after the presentation of the National Budget in Parliament mostly by people who ignore the process in the formative phase. It is important to make contributions right from the initial stage so that input can be taken on board. Ordinary citizens, too, have a stake in this process, hence the imperative need to make contributions during the consultative process in the 10 provinces of the country. The National Budget forms the basis of income and expenditure of public resources at national level. In simple terms, it is a financial plan for a defined period of time – one year. Therefore, it is incumbent upon all citizens to get involved because the Estimates of Expenditure affect the entire populous. This is the more reason why the Government has invited contributions to ensure that the final blueprint is all-inclusive. For professionals, it is important to understand the Seventh National Development Plan (7NDP) and the Economic Stabilisation and Growth Programme (ESGP) in their entirety in order to make meaningful contribution. Yes, Government has set the tone for economic diversification and job creation in the quest to accelerate development. Therefore, this and other aspects should be major reference points during the National Budget consultative process. Poverty reduction is certainly another reference point that should be encompassed and also the imperative need to reduce development inequalities. It is equally important to take care of enhanced human development aspect in this process and ensure inclusive economy. No one sector of society should be left out. One of the most important points is for Government to explore more ways of reducing dependence on foreign donors and grants to bridge the gap in the budget. This must obviously be done through enhanced domestic resource mobilisation undertaken by the Zambia Revenue Authority (ZRA). Captains of industry and other stakeholders have an important responsibility and obligation to pay taxes, hence the need for them to ensure that the tax regime is user friendly. They can only ensure that the regime is userfriendly through full participation during the National Budget consultative process and at formative stage. The catchphrase has been widening the tax base by including all informal sector players that have in the past been left out. Government and stakeholders must work towards building ZRA`s capacity so that the organisation is able to mop up necessary resources from both the formal and informal sectors. Tax compliance has been a challenge for many players in the private sector and the complaint has been that only a few are targeted; they are overstretched. However, other organisations are believed to have been evading and avoiding tax payment through unethical business practices. All such issues need to be addressed during the consultative process and not after Finance Minister presents the National Budget to Parliament. Yet, there are other armchair critics that go all-out to punch holes in the document even if it is well-articulated. The consultative process was planned to be concluded in the 10 provinces on June 3, this year. This is an opportune time for all concerned citizens to contribute to the National Budget; there should be a sense of ownership. The National Budget is an important document whose preparations should not be left to Government alone.