Zambia Congress Of Trade Unions Elated Over Debt Swap

The Zambia Congress of Trade Unions ( ZCTU) in Muchinga Province, says the debt swap initiative demonstrates government’s desire to improve the welfare of civil servants .

ZCTU Muchinga Province regional coordinator, Nondo Kasanda has told the Zambia News and Information Services (ZANIS ) in Chinsali on Sunday that the debt swap initiative must not be politicized as it is implemented in good faith.

Kasanda said the debt swap initiative by the government will give financial relief to public.

He added the initiative comes as a relief to many public workers who had faced hurdles because of the debt burden.

Kasanda said it is not the first time that the Patriotic Front (PF) has come to the aid of the highly indebted public workers.

He said that in 2013 Government awarded a precedented salary increment for civil servants with some having gotten as high as 200 percent effective September 1, 2013.

He said that the huge debts that public workers had with various financial lending institutions, had not only affected their families but also demotivated them from passionately discharging their duties.

Kasanda says the ZCTU in Muchinga wants the debt swap initiative to be orderly to benefit everyone.

And an Economist Bwalya Banda says the recently announced debt swap for civil servants by government is likely increase disposable income at household level.

Banda says the decision by government to bail out civil servants that owe financial lending institutions, has come at the right time when the country is facing economic challenges due to the COVID 19 pandemic.

He says the move will enable civil servants, most of whom are highly indebted to have sufficient disposable income.

Banda was speaking in an interview with ZNBC News in Petauke District on Sunday.

Source: ZANIS《》RT

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