Parliament passes six loan bills
Parliament on Monday passed six loan authorization bills presented by Finance Minister Ken Kandodo.
The House approved the Bill which Finance Minister presented requiring government to get a credit in form of a MK980 million loan from Opec Fund for International Development for rehabilitation of Kamuzu International Airport in the capital.
Parliament also approved a Bill allowing government to borrow US$34 FROM Africa Development Fund meant to rehabilitate Blantyre-Zomba road.
Kandodo was also approved by the House on bill to borrow MK12 billion from China for the construction of an international conference.
Lawmakers also approved a bill allowing government to get a US$12 loan from Arab Bank for Economic Development in Africa for development of Thyolo-Makwasa-Bangula road.
Parliament will on Tuesday continue debating on three loan bills.
The Finance Minister is expected to deliver a national budget on Friday in the national assembly. The appropriation act, 2009 is expected to come into force by July 28.
National Assembly last week passed a resolution authorizing the Minister of Finance to withdraw K75.5 billion from the Consolidated Fund for the purpose of meeting expenditure necessary to carry on the services of government from July 1, 2009 to October 31, 2009.
Malawi’s financial year starts on July 1 and ends on June 30 the following year.
Tagged with: budget, Kandodo, parliament
Thats what we have been crying for lol
Komatu thyolo makwasa Bangula road isakhale nyambo yopemphera. Ife aniake tikufuna progress on this road.Tatopa ndifumbi
A Kandodo ask Mr Gondwe for the Thyolo -Makwasa – Bangula road I thought this was approved in the last year’s budget where is the money so that you can came again seeking another cash. Munamangira msewu wakuti ndalamazo. This road is in a very-very bad shape why presenting bills each year without the ground work. Timavutika ndi nthochi zathu nthawi ya mvula this bill should be the last and this road must am saying must be built. We don’t won’t to hear this Thyolo – Makwasa – Bangula road in any bills coming. Mwadya ndalamzo eti. Munena bwinotu osamangoti Muluzi, Muluzi inu msewu wake mwamanga kuti. ACB tionana 2014.
Thats alot of authorizing.were these bills properly scrutinized?malawians need to be told how these loans are going to be repaid because it will be you me and our descendants repaying these loans.burdening us with taxes.
Awonjeza madolowa kaya, tiyeni nazoni. Bola nku nthazi, zinthuzo zikachitika bvuto palibe..
HOW ABOUT THE WORLD BANK LOAN FOR ELECTRICIRY CONNECTION FROM MOZAMBIQUE NOW THAT WE ARE FACING THESE BLACK-OUTS AND THE OPPOSITION WHO BLOCKED THIS BILL ARE NOW IN MINORITY?
Abale chonde nafensotu tikufuna mseu wathu wabwino from Karonga to Chitipa osamangotinamiza, mukufuna che Mwangala akwiye kapena? Start with one road and finish before you go for a new road mwatani anthu inu, tikukuonanitu eeeeeeh.
There is just too much authorisation. Watching parliament, there is no debate. All these guys do is to second the motion and pass the bill. No one is the to scrutinize the bills. Look how much has been authorised. Already as a country we are incuring huge debts. We are also not told the period when this debt will have to be repaid and the subsquent interest. Remember in the last parliament, the opposition refused to authorise a loan because it was discovered that after 4 years, the interest on the loan would have reached 55%, which is more than half of the money borrowed. And you all blamed the opposition. Today, Kandodo is not even telling us how much interest we as a nation are going to pay. I thought our parliament have proffesors, but these guys dont care about the country. They are just YES BWANA proffesors. Please Nyasa Times, keep my comments for as long as you can so that after 4 years when no meaningful development has been done but Malawi is paying back 60% interest on these loans, no one should say CHARITY NEVER WARNED US
US$34 NDI US$12 PALIBE CHIFUKWA CHOKONGOLERA MUTHA KUCHOTSELA FROM MY TAX.
Yes a good start indeed but what about other roads like Rumphi- Chitipa via nyika road? Jenda- Edingeni- Euthini -Rumphi road? Usisya-Mlowe road ? Zomba – Chingale kumapita chauko kuujeni?.I thought when a project is launched imakhala kuti mafunds apezeka kale abale!This Makwasa- Bangula road confuses me.Plse enlighten me as to why we should be indeed seeking funds for the already launched project.We support the goverment but other things need to be questioned ? Ma MP osangovomereza zilizonse! Ask its not a crime.
Hey,these honourable MPs atithandiza?
Are these the fruits of majority numbers in the house?
Will they be passing bills for the sake of pleasing the master without scrutiniing them or what?
Oooooooooooooooh, nooooooooooooHHHHH !!!