Private sector asks Govt to settle VAT refunds

By Masauso Mkwayaya

The Zambia Association of Manufacturers -ZAM- has called on Government to urgently settle over K60 billion in VAT refunds owed to the private sector.

ZAM President ASHU SAGAR says the money is critical for the private sector to operate efficiently.

During the ZAM post-budget analysis in Lusaka today, Mr. SAGAR said Government should improve the clearance time for VAT refunds.

And ZAM Chief Executive Officer MUNTANGA LINDUNDA said the sector aims to increase its contribution to the Country’s GDP from the current 8 percent to 36.

At the same event, Finance Minister SITUMBEKO MUSOKOTWANE said the restructured debt has freed up funds to support productive sectors.

Dr. MUSOKOTWANE said the public funds will be redirected to areas that can stimulate growth and stabilize the economy.

In a speech delivered on his behalf by Ministry of Finance Permanent Secretary for Planning and Administration PRUDENCE KAOMA, Dr. MUSOKOTWANE explained that the 2025 National Budget is non-concessionary and focuses on domestic resource mobilization to build resilience.