Malawi Congress Party (MCP) spokesperson on finance, Collins Kajawa, has proposed that government should review National Oil Company of Malawi (Nocma) role of importing fuel in the country.
Kajawa made the suggestion on Tuesday in his response to the 2019/2020 national budget which Finance Minister Joseph Mwanamvekha presented in Parliament.
He said there should be a review of government-owned Nocma’s in the fuel supply industry.
“The company should revert to its original mandate of managing strategic fuel reserves leaving commercial fuel importation in the hands of the private sector,” said Kajawa.
Kajawa told Parliament,that the Minister of Finance should update the nation onNOCMA’s fuel supply contracts, how they have so far impacted the Price Stabilisation Fund and assure the nation that it does not pose a significant fiscal risk going forward.
In his budget response, Kajawa also proposed that there is need for government to refrain from the issuance of promissory notes to cover losses and bad loans. This to some degree will tone down the domestic borrowing.
He said MCP also proposes to government to curtail and amputate irregular and hazardous procurement contracts which are legalising fraud and poverty in the country.Follow and Subscribe Nyasa TV :