THE country could be losing millions of dollars through misuse of retained funds by various Government departments such as the police and the Registrar General’s Office, Parliament’s Budget office has said.
The office has recommended that the Government should revert to the old system where all revenue is deposited into the Consolidated Revenue Fund.
The Budget office said Government could have realised up to $1 billion in fines and user charges last year alone but these did not reach the Consolidated Revenue Fund.
“Zimbabwe could be losing millions of dollars through misuse of retained funds by various Government departments who are retaining 100 percent of the funds they are collecting.
The Auditor General has raised a red flag over lack of transparency and accountability with regards to most of these statutory and retention funds,” said the office in its June analysis of the Retention Fund.