Retraction and Correction
In the previous edition of our publication, we inadvertently misstated the legal foundation of the Road Fund, asserting that it was established under the Road Fund Act of 1996. We regret this inaccuracy and wish to set the record straight with the utmost clarity and respect for factual precision.
The Road Fund was, in fact, initially instituted by the Lesotho Government pursuant to the Finance Order of 1988 and commenced operations through the Finance (Roads Fund) Notice of 1995. This framework governed its activities until 2005, when the Finance (Road Fund) Regulations of 2005 were promulgated to further refine its operations.
Subsequently, with the enactment of the Public Financial Management and Accountability Act of 2011 (PFMA 2011), the Road Fund Secretariat was duly integrated into the array of funds delineated under Section 21(3) of the PFMA. Presently, it operates under the auspices of the Finance (Road Fund) Regulations of 2012, tasked with the collection of revenue and the allocation of resources for the maintenance of the nation’s road infrastructure.
We sincerely apologise for the oversight and any confusion it may have caused our readers. Our commitment to accuracy remains steadfast, and we are grateful for the opportunity to correct this error with the diligence it deserves.
