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Parliament passes Appropriation Bill for additional K570BN in just ended 2023/24 Fiscal Year

Parliament has passed a supplementary appropriation bill formalising the additional expenditure of about K570 billion in the just ended 2023/2024 budget.

Minister of Finance, Simplex Chithyola Banda, said the funds in question were used for procurement of drugs, maize and other essentials for survivors of Cyclone Freddy.

Through the bill, Chithyola Banda sought the approval of the House to increase the amount appropriated under the appropriation Act of 2023.

With the new appropriated K570 billion, last year’s budget will now be 4 Trillion 200 billion Kwacha, up from 3 Trillion 788 Billion Kwacha.

However, immediately after presenting the bill, controversy ensued as party spokespersons of both UDF and DPP dismissed it as a serious irregularity.

However, Chithyola Banda clarified on the matter and the bill was passed by the whole house.

The minister said the just ended fiscal year was characterised by unforeseen shocks such as the cyclone and hunger and that although the funds were already used, Parliament needed to formalise it.

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