MINISTRY of Local Government and Rural Development Permanent Secretary for Technical Services Nicholas Phiri says government projects to carryover some funds from the 2023 CDF allocation into 2024. Phiri has however expressed hope that by end of 2025, the absorption rate for CDF will be at 98 percent nationwide. In an interview, Thursday, Phiri said the country had this year seen a tremendous improvement in the absorption rate of CDF funds. He said as at November 30, 2023, the burn rate was at 56.9 percent compared to the 40 percent recorded in 2022. “Basically, what we have seen is a tremendous improvement in the burn rate or the rate at which the councils are extending on capital projects. Yes, last...

To continue reading this premium content, login to your account or Subscribe to our ePaper using the buttons below.
Log In Subscribe