Government will not bail out Escom from K53bn bill to Egenco

Government says it will not bail out utility supplier Electricity Supply Corporation of Malawi (Escom) from its K53 billion unpaid electricity generation bills it owes Electricity Generation Company (Egenco)

A statement published by the Office of the Vice-President Tuesday  morning and signed by the vice-president’s press officer Pilirani Phiri, said following an agreement between Escom and Egenco, Escom will pay K11.7 billion out of the K53 billion which it owes Egenco by December 31 2020.

Phiri said that 60 percent of the balance equivalent to K25.2 billion will be paid by December 31 2021 while Ministry of Finance will facilitate that Egenco issues a Credit Note for the remaining 40 percent balance.