GOVT RELEASES FUNDS TO PAY FORMER RAMCOZ EMPLOYEES OUTSTANDING TERMINAL BENEFITS
By Patricia Mbewe
Government has released funds to Mukuba Pension Trust for the immediate payment of outstanding terminal benefits to former employees of Roan Antelope Mining Corporation of Zambia PLC –RAMCOZ-.
In a statement issued by the official receiver, acting as receiver and manager of RAMCOZ Dr. Katele Kalumba, the payment will cover terminal benefits that have been outstanding since 2000.
Dr. Kalumba further announced that the official receiver has commenced payments to all former employees who suffered double deductions for the purchase of company houses and those who did not receive Christmas bonuses for the years 2001 and 2002.
He said the official receiver’s mandate has been to secure government’s rights under the debenture which the government assumed from Zambia National Commercial Bank PLC –ZANACO- on behalf of Ramcoz.
Dr. Kalumba has since commended government for prioritizing the welfare of former RAMCOZ employees by directing funds towards their payments rather than recovering the monies due to it, demonstrating a generous and compassionate commitment to their well-being.
PHOENIX NEWS