Escom in K54bn debt, parliament questions K179bn Malawi govt domestic debt
Electricity Supply Corporation of Malawi (Escom) has asked the government to bail out the state run power house with a K54 billion which it accumulated as a debt.
This came to light during the ongoing parliamentary cluster meetings in Lilongwe.
Secretary to Treasury Ben Botolo confirmed the debt.
“But we are not bailing them now, we dont have the money. MRA (Malawi Revenue Authority) cannot just collect all that much at one goal,” Botolo said.
State controlled Malawi Broadcasting Corporation also asked for more money to pay for debts.
Chairman of the Budget and Finance Committee of parliament Rhino Chiphiko said the K54 billion debt for Escom could be a scam to fund the ruling Democratic Progressive Party (DPP) campaign ahead of the 2019 polls.
“This debt has been there it was just in millions, it is very surprising that it is now in billions,” said Chiphiko.
He said the government will secretly fund Escom. Chiphiko also wondered how the government has a K179 billion domestic debt, saying this was reckless.
Chiphiko said the government is insenstive of the economic situation the country is facing.
“Actually much of the borrowing is for consumption which is bad for the nation,” he said.
He said much of the debt also goes to the payment of interest on debt.
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Ooooh God please Remove the scales of blindness from the eyes of my fellow MALAWIANS so that we can see that BUSHIRI IS the only Answer to the hardships the country is facing otherwise We will regret like never before in human history
PLEASE CSOS PAC CHIEFS CHURCH LEADERS INVITE BUSHIRI TO COME AND HELP GOVERN THE COUNTRY AS WAS the case with KAMUZU
THE FUTURE OF OUR CHILDREN IS NOW
MAY GOD BLESS OUR LAND
Meanwhile the president Mutharika is out there talking nonsense about solving the power crisis by end of 2018. He talked the same nonsense befire the useless generators came. Useless President. Useless government., Useless DPP.
I always wonder why learned Malawians are all talking of future consequences of a debt-burdened Malawi as if they can’t see how far down the hole Malawi already is. The little the country is generating (MK1,4 trillion) has already been allocated to some unknown Account from which looting takes place. When the MoF talks of funding “projects” he actually means looting Account. Malawians must be the most stupid nation on earth that they can’t figure out where their hard earned tax money is going. We claim that we have very smart people but in actual fact they’re educated on paper… Read more »
With this pace of maladministration tsiku lina tidzangomva kuti dziko lino lapangidwa dissolve.
Why not bailing out Escom not Admarc. It is the politicians who take the monies from Escom let them bail EsCoM out
Chiphiko, it appears your committee has completely failed? Are we going to get anything from your surprises as regards how resources are being managed??
For how long Chiphiko and team are you going to “JUST WATCH LIKE THIS”? Mtambo and Gift, why don’t we have the demos this month? Its time these people were told to go!! Am completely fed-up with the nonsense!!
Just worried because the chair of Escom is the owner of the bank that bought Malawi Savings bank- a bank which was claimed to be unprofitable . He is a crook working with crooks
Escom you have allowed Dpp to take all the money and now you are making noise. To hell with your noise we are tired to hear your never ending stories. Give us electricity thats all we need.
This is now becoming very unbearable. Dpp led government is a burden to Malawians.
Kodi DPP ndiya satanic eti, stealing everyday. K40 Billion munatenga ku Escom ija kugula ma MP mwamaliza within a month now you are saying Debts foolish
I thought ESCOM is in money making business, where are those debts coming from,,, we use electricity and we pay cash,, how come they are accumulating this debt………. koma mbala zili ku DPP