SHAMENDA
By REBECCA
MUSHOTA-
LABOUR Minister Fackson Shamenda has cautioned the National Pension Scheme Authority (NAPSA) against engaging in corrupt activities when undertaking investments using contributors’ funds.
Mr Shamenda said when he launched the sale of the NAPSA housing units in Kalulushi at Mukuba Hotel yesterday that management should not engage in corruption to make reasonable profits from their investments.
He said if management or board members at NAPSA engaged in corruption, the institution would make minimal profit on the contributors’ funds they invested in projects, which would not help the institution or the beneficiaries of the pension scheme.
Mr Shamenda said the NAPSA housing units in Kalulushi were not as cheap as they should have been because some people from the previous management and board had engaged in corrupt practices.
“The other factors were that NAPSA had to pay compensation to people whose land was grabbed and so the houses had to be pegged at a slightly higher margin just to recover a small margin,” he said.
Mr Shamenda urged members of the NAPSA board to resist influence from politicians and ensure fairness in their operations.
He commended NAPSA management for a good job they had done on the housing project.
The housing units were completed at a cost of K274 million, 56 per cent higher than the initial estimated cost.
Earlier, NAPSA board chairperson Teddy Mulonga said the project that was started in 2010 has 438 housing units with low, medium and high cost rates.
The project also has a shopping complex and a school.
Mr Mulonga said the project could have finished earlier than it did but that there was a land dispute that was eventually settled in court and a group of people had to be compensated.
Kalulushi Mayor Bernard Mumba appealed to NAPSA to give Kalulushi residents first priority to purchase the houses.
Bishop Mumba said Kalulushi was grateful to NAPSA for the housing units.
The low cost houses are pegged at K450,000 each while the medium cost houses are ranging between K612,000 and K771,000 each. The high cost housing units are in the range of K930,000 and K975,000.
