17 May 2011
LABOUR and Social Security Minister Austin Liato has described as cheap politicking allegations that President Rupiah Banda influenced the US$98 million deal at National Pensions Scheme Authority (NAPSA) for the rehabilitation of Society House belonging to the Zambia National Building Society (ZNBS).
The minister, during a Press briefing in Lusaka, yesterday said such media reports were false and aimed at discrediting President Banda and his Government.
Mr Liato said the media reports that ZNBS had awarded a Kenyan contractor a contract to rehabilitate Society House along Cairo Road in Lusaka were not true as the contract was awarded to Zambezi Consortium.
Mr Liato said the NAPSA and ZNBS deal to rehabilitate Society House was purely a commercial business transaction and that President Banda had no hand in it.
He warned that the intention by some media houses to feed Zambians with wrong information in a bid to win political ground would not work.
He said if those that were spearheading this campaign used to abuse funds from public institutions during their time in Government, the situation was not the same with President Banda.
“If they think President Banda is trying to abuse funds from public institutions then they are wrong, President Banda is not such a person.
He is a credible and honourable man,” Mr Liato said.He said all tender procedures were observed in this deal. “The awarding of the tender was done in an open bidding arrangement where about 10 companies applied.
The money is not a loan, it is a pure business transaction for their investment programme,” he said.He said NAPSA had proper laid-down investment procedures that aimed at growing the funds and giving meaningful returns to their members.
The minister said NAPSA had a competent management which would not risk people’s money in bad investment programmes and would not just keep money in the bank but invest it in profitable ventures.
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