Capitalk Reporter |  8 months ago | local
Treasury should disburse the amounts of money allocated to ministries and other departments in the budget if it is to retain credibility and inspire confidence, a parliamentary post-budget seminar heard Monday.
Finance and Economic Development Professor Mthuli Ncube presented a $927 billion budget for 2022 that has largely been commended by observers.
However, economic analysts told MPs that full disbursements of budgeted funds were essential. Some ministries are yet to receive the full amounts they were allocated in the 2021 budgeted while others had been given more than their allocations.
Director of Parliament’s budget office, Mr Pepukai Chivore bemoaned the erratic disbursements that has seen some ministries and departments getting an average of 30 percent of their allocations as at September 31. Parliament had received 33 percent of its allocation, the Ministry of Industry and Commerce 32 percent, Foreign Affairs and International Trade 31 percent while that of Information and Communication Technologies, Post and Courier Services had got 28 percent.
He however, noted that other entities had gotten more than their allocation with the Public Service Commission getting 104 percent of what they were initially allocated, the Ministries of Energy and Power Development 131 percent, Defence and War Veterans Affairs 114 percent and Finance and Economic Development 123 percent.
“Repeated deviation from the promised roadmap diminish public confidence in the stewardship of resources,” Mr Chivore said.
Another analyst, Professor Gift Mugano echoed similar sentiments saying it raised questions on how ministries with deficits would have performed by December 31 and how those with surpluses would account for the extra funds.
Ms Shanangurai Takaindisa, the Bankers Association of Zimbabwe deputy chairperson urged Parliament to use their oversight powers to ensure that Treasury sticks to its pronouncements made in the budget