Malawians deserve to know how Bingu amassed wealth – Paper

Malawians deserve how former president Bingu wa Mutharika’s estate  which allegedly accumulated to K61 billion in eight years— up from K150 million which he declared upon assuming the presidency in 2004. Mutharika’s salary as president was K1 500 000, a  leading daily newspaper has said.

In 2012, the Joyce Banda administration engaged property valuer YMW Property Investment Limited (of Yeremiah Chihana) which put Mutharika’s deceased estate at K61 billion, a figure the family disputed.

The Public Accounts Committee of Parliament is pushing to investigate the wealth of the former president and establish whether the information [valuation] was correct and the source of Mutharika’s wealth.

In an editorial comment this week, The Nation newspaper, has since commended Public Accounts Committee (PAC) “for not relenting” on the matter.

The paper said it is critical that  the value of the deceased estate is established for tax collection purposes as the State us losing potential revenue under the current circumstances.

The Executive arm of government is not showing enough interest to see the matter come to its conclusive end.

The paper said in its comment that President Peter Mutharika should have “greater interest” to see the wealth probe to its local conclusion.

“It is important that President Peter Mutharika, being younger brother to the former president, is not seen ti be in conflict of interest on the matter,” reads the editorial in part.

“We urge the President to rise above partisan politics and indeed blood relations to provide all necessary resources to facilitates the probe in a bid to clear his brother, and indeed the presidency.”

The paper said if there are doubts  about the first valuation, other option should be looked at, including brining in independent international estate valuers to assess Bingu estate and how the former president amassed his wealth.