19.2 C
Lusaka
Thursday, February 2, 2023
spot_img
HomeNewsGOVERNMENT CONCERNED WITH LOW ABSORPTION RATE OF CDF

GOVERNMENT CONCERNED WITH LOW ABSORPTION RATE OF CDF

Government has expressed concern with the low absorption rate of the Constituency Development Fund (CDF).
Ministry of Finance Permanent Secretary- Development Corporation, Monitoring and Evaluation, Danies Chisenda says from the K2, 205,369,577.16 disbursed so far, only K84.05 million has been spent as at 30th June 2022 representing 4.2 percent absorption.
Making a PowerPoint presentation on the mid-year performance review, at a symposium on the mid-year budget and economic performance and the 2023 to 2025 medium term budget plan, Mr. Chisenda says government is working with all relevant institutions to resolve bottlenecks that are hampering the utilization of CDF.
Mr. Chisenga is however confident that these bottlenecks which include lack of information on CDF processes and application forms, perceived cumbersome registration and procurement processes will be resolved soon.
Meanwhile, Mr. Chisenda says the treasury has disbursed 50 percent of the annual budget allocation amounting to K2.01 billion in the first half of the year.
PHEONIX NEWS
RELATED ARTICLES
- Advertisment -
Royal Charter

Most Popular