Employers get K20 billion relief

TRYNESS TEMBO
Lusaka
NATIONAL Pension Scheme Authority (NAPSA) has waived off K20.8 billion out of about K31.1 billion employers owe in outstanding penalties.
The waiver came into effect on January 8, 2024, when Minister of Labour and Social Security Brenda Tambatamba signed the National Pension Scheme Penalty Waiver Regulations of 2024 into law.
NAPSA director-general Muyangwa Muyangwa said the enactment of the penalty waiver regulations is part of Government’s broader agenda for promoting investments and job creation through the reduction of the cost of doing business.
“Waiver of penalties as at today stands at about K31.1 billion outstanding, but just by the stroke of signing the statutory instrument, an equivalent of K20.8 billion is waived,” he said during a media briefing.