. Kambwili

By SYLVESTER MWALE –
THE Government has resolved to liquidate the outstanding US$300 million owed to Eastern and Southern African Trade and Development (PTA) Bank accumulated through petroleum importation.
The arrears would be dismantled in four installments within a period of one year.
Chief Government Spokesperson Chishimba Kambwili said in a statement in Lusaka yesterday that the commitment was in accordance with the agreement between the Government and the PTA Bank.
Mr Kambwili said in a statement yesterday when he announced Cabinet resolutions that the Government had also approved the implementation of the Copperbelt Urban Roads Project dubbed C-400 which would cost  $418 million.
“Government in its continued quest to improve the road infrastructure decided to finance the C-400 road project that will lead to a complete improvement of the road network in all the towns and cities of the Copperbelt,” he said.
Cabinet also approved that Zambia adopt the concluded and initialed Double Taxation Avoidance Agreement between Zambia and Norway.
Mr Kambwili said Cabinet decided to ratify the Double Taxation Agreement in order to accommodate the new developments that had taken place since the last Agreement of 1971.
The proposed new Agreement provides for tools to enhance revenue collection through the exchange of information, under Article 24, between the competent authorities of the two nations.
Similarly, Cabinet approved the adoption of the concluded and initialed Double Taxation Avoidance Agreement between Zambia and Serbia.
Mr Kambwili said the Government felt that it was necessary to ratify the agreement in order to accommodate the new developments that had taken place since 2001 in order to enhance tax recovery methods.
He revealed that Cabinet approved to support the implementation of the Lusaka Water Sanitation Project at a cost of $65 million.
The project is aimed at increasing access to sustainable services in selected areas of Lusaka and strengthening capacity for Lusaka Water and Sewerage Company to manage sanitation services.
“The proposed project will contribute towards the achievement of National Vision target to improve the provision of basic services such as water and sanitation,” Mr Kambwili said.
He said the Government also approved the revised farm bloc development land allocation guidelines.
Under this item, Cabinet approved in principle the Local Government Amendment Bill 2015 so as to pave way for the Amendment of Section 45 (A) (2).
The amendment of the Local Government Act is meant, therefore, to provide for additional functions to the councils, in a decentralised system, to be financially supported in order to enable local authorities perform their functions effectively and pay salaries to council employees.
Cabinet took note of steps undertaken to increase power generation and supply where 420 megawatts was expected to come on stream between this month and June 2016.