K600m pension fund lies idle, Malawi govt eyes for hydro-power

A senior government official has suggested Capital Hill might contact pension fund managers to borrow some money in order to fund the construction of some more hydro-electric power stations as a long time plan to ease the current electricity problems.

Botolo: Press Corporation has shown interest

Secretary to Treasury Ben Botolo said the pension fund has K500 million to K600 million lying idle elsewhere which he said the government can use for the electricity power investments.

Botolo’s comments come at a time when Escom, the power suppliers, have said there would be power black outs during the Easter holidays, which will leave Christians commemorating the death and resurrection of Jesus in darkness.

The blackouts, in actual fact, started on Monday which are now longer than ever before with townships going the whole day without power.

Botolo said the government was upbeat that South Rukuru and Songwe rivers in the north can provide power for the country.

However, he was quick to say that such projects take long to materialize, saying the environmental impact assessment alone can take up to two years as experts would need to know the speed of the flow of water in the rivers.

Botolo also said that Press Corporation has shown interest to provide electricity and their proposal is being looked into by related government agencies.

“I am told they want to provide 60 megawatts of electricity. This is a welcome development,” said Botolo.

Egenco spokesperson Moses Gwaza said the Press Corporation proposal is being looked into by Mera, Egenco and others

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Mphwache
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Mphwache

Mr. Botolo should know better. The cost of building hydro electric power plant is in excess of $1 million dollars per megawatt. The money he is talking about is less than $1 million, hence Its just a drop in the ocean. To make a reasonable HEP plant, it must at least be designed for 10MW. You are talking not less than 15 times the amount he is talking about.

Lewis Fabiano
Guest
Lewis Fabiano

If there was all this money lying idle, why were the pensions of pensioners not revised this year ? Many have been getting the same amount of pension since July 2016.

Martin
Guest
Martin

Santana, can’t you see the people you defend day-in-and-out are as useless as they come and go? Does it make any sense to you or any other person for that matter to chase only 25% in value (of 4 billion) of the people’s pension funds to build power plants yet they want to give away the same on unidentified projects? Do we have a leader or leaders in this country? I don’t personally hate dpp as party but i hate the way they do things and treat all of us citizens as fools and some of us do qualify with… Read more »

Central
Guest
Central

A Botolonso nde mbuzi ya mano kunsi….! Is the reason of earmarking those resources for pensioners over? Have you paid them all?

Nde mkumati ameneyo nde PS…………………………..! Iwe wemwe unali patsogolo kulipila za ma gensets mkumati tagula, chikhalilecho ndi a rent! Mumvekele blackouts will be a thing of the past, ndi pita anuwo, lero mwatembenuka amvekera fwifwifwifwifwifwifwi mwakhuta khuta uko mwayesa ife oseweletetsa etiiiiiiiiiii?

Gondwe has idle money, botolo idle money, how much idel monies do you have afinye inuuuuuuuuuu?

Atati Che Mbaluku
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Atati Che Mbaluku

Stop talking nonsense and start solving problems. How many years have you been a PS? This is all you can say. You budget K7billion for state house but for budget for electricity generation. Nonsense

kondwani
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kondwani

“Idle elsewhere,” The new spirit of the land. Dead men and women masquerading as citizens of this country are the ones promoting these dudes to be stealing in broad day light. Democracy in ”
an illiterate nation” is a fart.

observer
Guest
observer

Where is Genset we already wasted money buying the Gensets?

Jah no partial
Guest
Jah no partial

Why not invest the 4Billion MPS wants to share for non existing constituency projects? Invest this money in hydro electricity…. why do we Malawians think upside down??

Metamorphosis
Guest
Metamorphosis

Izi zikuonetseratu kuti mukufuna kuba ndalama za pension basi. If your department will be giving out the K4Bn to MPs why not holding it for this purpose? How do you set the priorities for this land?

Gwamula
Guest
Gwamula

Koma izizi zomati there is this much money hanging somewhere zichepe mwamva AGALU inu!!!!!
Kodi amene amakazitokosola ndikuzipeza pomwe zimangokhala ndalamazo ndi mwana wandanj ndipo amakhala kuti amatani kuti azipeze? Nanga wosunga chikwama amati zangokhala chifukwa chani umphawi wonseu kadziko kathuka? Shupiti musanditukwanitse mwamva

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