The Parliamentary Committee on Budget and Finance has asked the government to substitute domestic borrowing with concessional financing options to address the unsustainable rise in public debt.

Its chairperson, Gladys Ganda, made the proposal on Monday in parliament in response to the 2025-2026 proposed K8.05 trillion national budget.

She also mentioned that the government needs to implement a clear debt repayment strategy to prevent excessive interest burdens due to excessive expenditures.

"We feel the current economic hurdles that the country is experiencing; there is a need for the government to implement targeted revenue-enhancing measures like broadening the tax base to reduce fiscal imbalances," Ganda added.

According to Ganda, future budgets must include all anticipated expenditures from the outset, such as provisions for newly elected members of Parliament and other statutory obligations.

Minister of Finance Simplex Chithyola Banda is, however, optimistic that the proposed national budget will meet the country's key policies.

The budget and finance committee has also challenged the government to move beyond rhetoric and take decisive action to address the current economic challenges.