Malawi borrows US$50 million from PTA Bank to settle fuel bills
Malawi has borrowed almost MK7.2billion (US$50million) from the Preferential Trade Area (PTA) Bank, a regional trade and finance bank, to settle its fuel import bills.
Finance Minister Ken Kandodo confirmed that government would this week receive the loan from the bank to pay for fuel arrears through the Petroleum Importers Limited (PIL).
“With this loan, the country’s fuel shortage will come to an end since the loan will help with the settlement of the dues the country had with the manufacturers,” he said.
Malawi has been experiencing fuel shortages, mainly diesel, at its fuel pump stations nationwide. APA.
Imeneyo ndiye economics yapa mumbai.Ikanakhala yochokera kwa azungu zikanakhala zomveka.I doubt his Phd from india.Paja amalawi akamva za phd amati njenje.Ma university enawa katopa nawe makamaka waku africa amangoti azipita kwawo mpatseni ma qualifications zikawaphulikire wokha nkoko.Apa zikuoneka kuti that JC graduate was better off than this outdated Bingu who claims to be economic guru and the financial dept being led by Mwitha’s friend who failed to run Blantyre print and you expect him to run the economy the impoverished malawi.It will take time for Malawi to improve with its lousy appointments mainly the useless one during Bingu’s time.
It looks like you do not have PhD right? If you have then you must know better that PhD is never issued in the way you explained. May be you may not have one. Such comments are made by those who do not know anything about PhD. People work to get it not the way you hve put it..good luck on your endeavours.
Wake up Malawians though this money has been taken from a local bank, the govt will repay it with interest. U$50 will be U$75 it is a gamboling game. Credit is known spending from without, That’s a reason his jackass dream project has failed. If it had been along term plan with superb strategies he would have done better. Now see the long term agendas he adopted, aren’t you celebrating now with good roads sufficient and surplus food. I tell you a lame duck , as American used to call Bush, Bingu resembles him ( kupupuluma ) . Now what is a result of unplanned jackass dream? Where is fuel , water in cities, electricity in homes? Go check how well the other countries are doing in Africa in terms utilities? You are just thinking about your stomach as your uncle Bingu is doing. But to have Malawians in mind NO.