Wed, 19 Sep 2012 07:41:57 +0000 The government’s decision to borrow $750 million from unknown person without supportive projects by government is wrong says former Finance Minister Ngandu Magande. And Mr Magande observed that the decision by government to pump $120 million into the Zambia Railways is an indication that the current government did not have a plan for the money the borrowed. He said it was surprising that government announced two days after repossessing the former Railway Systems of Zambia that it would pump in $120 million to help revamp the railway system. The former finance minister noted that government should have indicated to Zambians why it decided to acquire such monies without specific projects where the monies would be channelled. He wondered why government did not want to release a full statement to indicate why it was borrowing so much money without saying the intended purposes for the money. “We want to know […]
