Treasury injects K2m in FIC operations
Published On January 22, 2018 » 517 Views» By Evans Musenya Manda » Stories
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By CASSEY KAYULA –
THE Treasury through the Ministry of Finance has released over K2.6 million to the Financial Intelligence Center (FIC) for effective operations.
Ministry of Finance head of public relations Chileshe Kandeta said the ministry, through various reforms, has taken the lead in ensuring that the Government policy of enhancing the performance of fiscal and monetary governance institutions is effectively implemented.
He said this would enable organisations continue to produce high quality performance.
Mr Kandeta said this approach would help position governance efforts in good standing with bilateral and multilateral partners in the region as well as the international community.
“The 96 per cent funding release to FIC last year certainly reflects the commitment of the Government to ensure smooth operations of the organisation.
“It is inconceivable for some sections of society to suggest that the Government is impeding the functioning of the FIC, an entity which, we created and brought into statutory existence through an Act of Parliament; resulting from our own self-motivated interest to trace, monitor, and eliminate illicit flows in our financial system, he said.
Mr Kandeta said government has clear communication processes and procedures for line ministries, provinces, and other spending agencies such as FIC.
“In this regard, the public should be rest assured that the insinuated maneuvers allegedly aimed at stifling the operations of the FIC, as some sections of society may want the populace to believe,are non-existent,” he said.
In the 2017 budget, Parliament approved a total estimate of K30 million for FIC a grant-aided-institution under the Ministry of Finance, of which 96 per cent was released by December, last year.
In this year’s budget,  Parliament approved a total estimate of K31.5 million for the center.

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