CIVIL SERVANTS DEBT SWAP ENFORCED- MALUPENGA
By Ruth Chayinda
Over sixty thousand civil servants have had their debt swapped.
Ministry of Information Permanent Secretary Amos Malupenga has expressed happiness that the process to start the debt swap which started over three years ago has finally taken off.
Mr. Malupenga has also urged employers that acquired loans through the third party to avail their information to Government so that they can benefit from the debt swap initiative.
He says once information is collected government will analyze the data so that it can establish how much commercial banks and other financial institutions are owed.
Mr. Malupenga says this will then enable Government to restructure the debt.
The Information PS said this in an interview with ZNBC News in Lusaka.
He said Government has also received requests from parastatals and other institutions to have their debt swapped.
Mr. Malupenga said that there are three categories that will have to be included on the debt swap and will be carried out in a phased approach.
He stressed that the debt swap is a labour matter and not a political issue which was proposed by the labour unions.