developed a fault at the on-going Zambia Agriculture and Commercial
Showground
The Zambia Railways Limited (ZRL) says the 2017 Auditor General’s report highlighting its troubled financial status has been over-taken by events.
Zambia Railways Board Chairperson Lubinda Linyama explains that the loose positions highlighted in the latest Auditor General’s report were as a result of two parallel pay rolls that the company was managing consisting of retirees and active employs.
He added that the company has since managed to pay off all retirees, hence, extinguishing the second pay roll which he said was a strain on the company’s financial status.
Mr Linyama said this in a statement issued to ZANIS in Lusaka today by First Secretary for Press and Public Relations at Zambia’s High Commission in South Africa, Naomi Nyawali.He stated that Zambia Railways Limited has put in place a number of interventions aimed at dismantling historical liabilities with statutory entities that were affecting the company’s balance sheet.
Mr Linyama mentioned that the company has entered into a time- to- pay agreement with the National Pensions Authority (NAPSA) and Zambia Revenue Authority (ZRA) among others, with a view of demolishing the historical liabilities which will help clean up the company’s balance sheet.He noted that contrary to the impression that has been created that the company’s locomotive strength was gloomy, his company has made a lot of strides such as the introduction of new locomotives secured from its partners to help turn the fortunes of the company.
The Zambia Railways Board Chairperson added that the railway company has embarked on re-manufacturing of locomotives within its workshops, which has enhanced the company’s capacity to move cargo.He said the company has also revised its strategic plans to run from 2018-2025 in a bid to improve its performance.And Mr Linyama has expressed confidence that Zambia Railways was on the right track to recovery, owing to the number of measures that have been put in place to over-turn its fortunes.
He was speaking in Johannesburg in South Africa, after addressing delegates at the South African Railway Association (SARA) Rail Conference and Exhibition held at the Gallagher Convention Centre.
Its 2019 and they are still talking about 2017 Report…what of 2018…things like this do not matter to LAZY LUNGU’s govt!!
I just asked my friends in next cubical, what was date today. 59 year old hotty woman laughed, and said “yaa days are running fast, it’s 23 May in 2019 don’t forget my presents for a big one”.
She didn’t know am on LT reading 2017 reports.
“ the railway company has embarked on re-manufacturing of locomotives within its workshops“
Those old engines belong in a museum, any right thinking railways business executive should talking about current technology and fuel efficiency.
Have they been audited on how they utilized the Euro bond? Zambia Railways how did you spend the Euro Bond? I remember once upon a time Zambia Railways used to be the most famous company in Kabwe, employing the largest working population and owning most of the residential properties there.
BRING BACK PROFESSOR CLIVE CHIRWA LIKE KALUSHA BOUNCING BACK TO FAZ, PLEASE NO BOASTING NA NJALA CHIRWA IS OURS AND HE IS WILLING TO ASSIST REVAMP THIS SNAIL CRAWLING KOMPANI
Any high performing CEO in Zed is quickly thrown to cadres with the accusation that he is plotting to become President. Competence always becomes a challenge to retarded oafs in power. So we continue with those who wait for two years to claim they have addressed the auditor’s concerns in “overtaken” fashion.