Govt devises strategy to dismantle K12.7bn

GOVERNMENT has devised a comprehensive programme to expeditiously dismantle the K12.7 billion arrears owed to local contractors to reduce stress on the financial sector in view of high levels of non-performing loans.
Minister of Finance Margaret Mwanakatwe said in an interview that loan servicing is critical to the growth of the banking sector.
Mrs Mwanakatwe said Government is committed to pay contractors and suppliers to enable them meet their financial obligations and contribute to the country’s socio-economic development.
She said it is Government’s desire to see normalisation of lending conditions on the market.
“Government, through the central bank is working on measures to make the cost of credit

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