By KAIKO NAMUSA –
THE Lusaka magistrate court has ordered Armcor Security to pay the National Pension Scheme Authority (NAPSA) K38 million owed as statutory fees and penalty charges.
This was a consent order in which the court directed that Armcor pays its dues to NAPSA.
The total figure demanded to be paid to NAPSA is K38, 272, 821.43 broken down as K8, 150, 789.44 for statutory contributions and K30, 112,031.99 as penalty charge.
The subordinate court ordered Armcor to pay K8, 150,789.44 as an equal monthly installment over 18 months from the effective date of the order.
The order stated 14 days thereafter of December 2015, the parties should meet to draw another agreement for the outstanding penalties.
“It is further ordered that should there be a breach in the payment of or complying with this order or any part thereof, the whole debt shall be due and NAPSA shall be at liberty to execute within seven days of the date of default thereof,” the court said.
Documents obtained, however, indicated that Armcor had not made payment in adhering to the court directive.
An amount estimated around K1.5million plus penalties had not yet been paid to cover the months of May, June and July, this year.
In July, 2011 the company had entered into a similar agreement to pay its dues currently owed to NAPSA but a balance of more than K1.5 million was still being owed which included penalties.
