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LUSAKA, Nov. 30 (Xinhua) -- The Zambian government has drafted a law aimed at curtailing revenue leakages and enforcing punitive measures for public fund abusers, state media reported on Wednesday.
Minister of Finance Felix Mutati said the Public Finance Act once enacted by the Parliament would eliminate revenue leakages and wastage of public resources.
In remarks delivered at the start of a corporate governance convention organized by the Association of Chartered Certified Accountants (ACCA) and the Institute of Directors of Zambia (IODZ), the minister said the Act will also address issues raised in the Auditor-General's Report on misappropriation of public resources and financial irregularities.
"We are going to carry out the necessary arrangement to the Public Finance Act in order to make it stronger so that as the Auditor's report comes out we are able to take those actions from it," he was quoted saying by the Times of Zambia.
According to him, the Auditor General's Report has been saturated with misappropriation of public resources, adding that the Public Finance Act would curtail such particular behavior of misappropriation of funds. Enditem
