Zambia: Ministry of Finance releases K198 million towards the First term Boarding Schools and Bursary Scheme

The Ministry of Finance and National Planning yesterday released K198 million towards the First term Secondary Boarding Schools and Skills Development Bursary Scheme. The resources are part of the 20% allocated towards the Secondary Boarding Schools and Skills Development Bursary Scheme from the 2022 Constituency Development Fund.

According to the guidelines issued by the Ministry of Local Government and Rural Development, the selection of beneficiaries shall be conducted at the community level through Ward Development Committees.

It is the resolve of the Government that savings arising from Governments policy to restructure expenditures through the elimination of subsidies, such as fuel, should steadily benefit our people. We do recognize the critical role that education plays in human capital formation and in economic growth over the long term. This is why we are happy to redirect resources to investing in young people through education. This will ensure job creation and socio-economic transformation and provide equitable and quality education for all. As Government, we will endeavor to promote policies that will address the core barriers to access education and ensure that all the vulnerable learners can easily access education.

The bursary component that is targeted at beneficiaries who are pursuing tertiary education will enable youths from each and every constituency of Zambia to gain skills that are required in national building. The acquired skills will prepare the youths in constituencies to construct classrooms, teachers houses, and clinics. They will also be able to manufacture school furniture and undertake plumbing and electrical works etc.

Therefore, using the enhanced allocations of the CDF from K1.6 million to K25.7 million per year for each Constituency, the bursaries for skills training will also empower youths to undertake development works in their areas either as contractors or employees.

It is our hope that bursary administrators will fully embrace these guidelines so that together we can achieve the objectives of the Secondary Boarding Schools and Skills Development Bursary Scheme. Failure to comply with established financial regulations in the management of the scheme will not be tolerated.

We are optimistic that once the economic reform measures are fully implemented, significant benefits will accrue to the people of Zambia through increased financing of social protection mechanisms. This will further alleviate the suffering of poor and vulnerable households.

Issued By:
Dr. Situmbeko Musokotwane, MP
MINISTER OF FINANCE AND NATIONAL PLANNING

source: lusakatimes.com