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Friday, September 24, 2021

Govt held for engaging financial institutions over debt swap

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Various stakeholders are pleased that Government has started to engage commercial banks and microfinance institutions over the debt swap program.

Federation of Free Trade Union of Zambia -FFTUZ- Women Chairperson Charity Kampamba says this is a road map for civil servants to have disposable income in the next three months.

Ms. Kampamba says her union is happy that the debt swap whose negotiations with government started a long time ago has come to pass.

She explained to ZNBC news that the move will help to clear burdens of debts that most Civil Servants have with banks and Lending Institutions.

Ms. Kampamba has however appealed to Civil Servants to be weary with some information on social Media on the matter but instead get credible information from Government officials.

And the Zambia Federation of Employers Executive Director Harrington Chibanda has appealed to Government ensure that the process of releasing funds is expedited so that all Civil Servants, commercial banks and micro-finance institutions are not affected.

Mr. Chibanda said the gesture is good on the economic aspect because in the next three months Civil Servants will not have their salaries deducted.

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