The number of companies facing decreasing production is on the rise, the recent being Bakhresa that has closed down its Lilongwe branch.
This has ended in more people having no jobs because myopic economic engineering by the authorities.
Bakhresa Grain Milling (Mw) Limited has closed down its branch in Lilongwe there by declaring only Malawian staff redundant, increasing the unemployment rate
Officials of Bakhresa, who agreed to shed more light on the issue, were coy to comment on the eleventh hour in what insiders say is fear of the powers that be.
“These guys fear trouble but the redundancies in Lilongwe are no fair because only Malawians are being retrenched but there are a lot of incompetent expatriates in the company,” said the insiders.
In reaction to this new shut down, labour activists have urged Malawi government to come up with financial measures to save companies from closure and keep jobs of Malawian employees.
Malawi Congress of Trade Unions (MCTU) Robert Mkwezalamba said government must not let things to go from bad to worse but provide financial bail out to companies that are in red.
“Governments everywhere in the world bail out companies facing such challenges with either loans or pumping in capital so that they come in as shareholder to resuscitate operations as had been the case in the US and Europe this is the only way we can save massive jobs that are about to be lost and on a larger picture stop a complete economic collapse,” said Mkwezalamba.
Unilever, Puma and many other fuel stations have already publicly said if the forex and fuel situation does not improve they will have no choice but close down some department and fire staff.