Malawi govt warns non performing, limping parastatals

Government has given chief executives of non performing and limping parastatals up to one year to turn tables or face drastic action.

Secretary to Treasury Ben Botolo sounded the warning in Lilongwe during a stakeholders meeting.

Botolo said the parastatals, who are state companies are supposed to give dividends or profits to the government.

“Unfortunately, most of them are not, instead, they ask for money from the government,” said Botolo.

He said next year, there shall not be business as usual.

Martha Chizimba, the chief economist in the Ministry of Finance said parastatals such as Egenco and Admarc are the worst in the energy and agriculture sectors.

There have been outcries that the ruling Democratic Progressive Party uses parastatals to strip the state of its money for personal and party use while Malawi Broadcasting Corporation for the DPP propaganda.