Government says the K95 billion allocated to capacitate the state produce trader Agricultural Development and Marketing Corporation (ADMARC) will be off the 2021/2022 national budget.

According to minister of finance Felix Mlusu, ADMARC will access funding from the financial market and that government will only provide necessary support.

“This funding is going to be off the budget, ADMARC is the one which is going to access the funding from the financial market, and where support from the government will be required, government will provide that support,” he said.

Mlusu has also disclosed the state produce marketer has already secured the said K95 billion and that they are ready to buy farm produce from the country`s farmers.

“And I would like to assure the whole nation that ADMARC has already secured that K95 billion so they are now ready to continue buying the produce by offering very good prices for our farmers that is the whole intention of the government to give them the whole K95 billion through government,” said the finance minister.

Earlier, the report from the Cluster on Agriculture and Natural Resources requested for an increase in the allocation for the purchase of maize and other produce by ADMARC.

Later, Mlusu inform the august House that arrangements have been made to ensure that ADMARC has the required finance of K95.0 billion for the purchase of maize and other crops from farmers subject to the passing of the budget by parliament.

Meanwhile, the House has passed an Appropriation Bill allowing Treasury to commence using the 2021/2022 budget estimates.

Total expenditure for the 2021/2022 fiscal year is programmed at K1.995 trillion, representing 19.4 percent of Gross Domestic Product (GDP).