By: Justicia Shipena
Finance and Public Enterprise Minister Ipumbu Shiimi has expressed concern that the continuous financial bailouts provided to state-owned enterprises are diverting resources from essential social investments.
Shiimi raised the concern as he presented the mid-term budget review in the National Assembly yesterday.
The review follows the 2023/24 National Budget that Shiimi tabled on February 22, 2023, under the theme “Economic Revival and Caring for the Poor.”
Shiimi stressed that the situation at certain state-owned enterprises necessitates immediate and decisive actions to ensure their sustainability.
“Continuing to provide financial assistance to these public enterprises diverts resources required for vital social investments in areas such as education, healthcare, housing, agriculture, social protection, and more,” Shiimi said.
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