By Staff Reporter<\/p>\n
\n
Finance Minister Margaret Mwanakatwe has revised President Edgar Lungu\u2019s salary and annual allowances.<\/p>\n
Lungu\u2019s monthly salary has gone up by about K6, 000 while his special allowance has gone up by about K1, 700.<\/p>\n
The Presidential salary and special allowance were last revised in 2013 under the leadership of late president Michael Sata.<\/p>\n
According to a Statutory Instrument Mwanakatwe signed on August 9 this year, Lungu is now getting a monthly salary of K40, 653.25.<\/p>\n
Before this Statutory Instrument, the President was getting an annual salary of K414, 406 (K34, 533.83 per month), and an annual special allowance of K108, 934.00 (K9, 077.83).<\/p>\n
By law, the Minister of Finance is empowered to determine and periodically revise how much a President gets in salary and allowances.<\/p>\n
Section 2 (1) of the Presidential Emoluments (Amendment) Act of 2009 states that: \u201cThe President shall be paid a salary and allowances at such rate as the Minister responsible for finance may prescribe, by statutory instrument, in consultation with the Standing Orders Committee of the National Assembly.\u201d<\/p>\n
Lungu is also getting a fixed special monthly allowance of over K10, 784.41.<\/p>\n
\u00a0\u201cIn EXERCISE of the powers contained in section 2 of the Presidential Emoluments Act, and after consultation with the Standing Orders Committee of the National Assembly, the following regulations are made: \u2026 (2) These Regulations are deemed to have come into operation on 1st<\/sup>\u00a0January, 2018,\u201d stated Statutory Instrument number 62 of 2018. \u201cThe principle Regulations are amended by the revocation of Regulation 2 and the substitution thereof of the following: 3. The President shall be paid a \u2013<\/p>\n \n (a)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0salary calculated at an annual rate of K487, 839.00; and<\/p>\n (b)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0special annual allowance of K129, 413.00.\u201d<\/p>\n <\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" By Staff Reporter Finance Minister Margaret Mwanakatwe has revised President Edgar Lungu\u2019s salary and annual allowances. Lungu\u2019s monthly salary has gone up by about K6, 000 while his special allowance has gone up by about K1, 700. The Presidential salary and special allowance were last revised in 2013 under the leadership of late president Michael […]<\/p>\n","protected":false},"author":3,"featured_media":6281,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[10],"tags":[],"_links":{"self":[{"href":"http:\/\/newsdayzambia.com\/index.php?rest_route=\/wp\/v2\/posts\/6280"}],"collection":[{"href":"http:\/\/newsdayzambia.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/newsdayzambia.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/newsdayzambia.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"http:\/\/newsdayzambia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6280"}],"version-history":[{"count":1,"href":"http:\/\/newsdayzambia.com\/index.php?rest_route=\/wp\/v2\/posts\/6280\/revisions"}],"predecessor-version":[{"id":6282,"href":"http:\/\/newsdayzambia.com\/index.php?rest_route=\/wp\/v2\/posts\/6280\/revisions\/6282"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/newsdayzambia.com\/index.php?rest_route=\/wp\/v2\/media\/6281"}],"wp:attachment":[{"href":"http:\/\/newsdayzambia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6280"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/newsdayzambia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6280"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/newsdayzambia.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6280"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}