Finance Minister Felix Mlusu’s 2021/2022 fiscal budget—delivered at the Parliament Building in the capital Lilongwe on Friday, May 28, 2021—has already began proving what critics said that the K1.9 trillion budget “is unrealistic” following a contradiction between the ministry and the treasury on inflation. Members of the national assembly are presently locked in cluster meetings […]
On Friday, May 28, 2021, Finance Minister Felix Mlusu pronounced budget estimates for the 2021/2022 financial year and tongues have been wagging from all quarters of society on the pros and cons of his efforts. Following a thorough consultative process by Ministry of Finance with all stakeholders across the board, the minister’s final output in […]
Minister of Finance, Felix Mlusu, on Friday afternoon presented his budget for the 2021/2022 fiscal year, and one of the items that Malawians have so far been excited about is that beginning this financial year taxpayers will be allowed to import goods of no more than US$3 000 duty free. The budget is Mlusu’s second […]
“Once completed, water production will increase to an assurance level and enough to meet the growing demand.” Finance Minister Felix Mlusu has lauded the European Investment Bank (EIB) for its continued financial support and recommencing commitment in underwriting resources for various development schemes including water projects in the country. The Malawi government purse keeper, Mlusu, […]
President Lazarus Chakwera will next Wednesday return to the national assembly where he will be expected to respond to questions from legislators on the State of the Nation Address (SONA) he presented on May 12. Such an appearance before parliament will be President Chakwera’s third time since he assumed office in June last year; and […]
The gods of Tonse Alliance administration must be smiling as The World Bank Group’s (WBG) Board of Executive Directors announced yesterday in Washington that it has discussed the new Country Partnership Framework (CPF) for Malawi, which supports the creation of more jobs. The new CPF which will guide the World Bank Group’s work over the […]
“….Unpacking manufacturers concerns” * The manufacturers plead for protection against smuggling * Production lines and sales have declined as people opt for cheaper smuggled cooking oil Cooking oil manufacturers takes cognizance that the increase in price of the commodity is due to global trends on crude oil but Malawi’s prices went further up following the […]
Finance minister Felix Mlusu has told parliament that government has nullified a K10.5 billion loan re-payment schedule deal with Mulli Brothers. Mulli Brothers was one of the companies that took “toxic” loans from Malawi Savings Bank before it was sold to FDH Bank in 2015. And responding in a parliament to a question from Lilongwe […]
Finance minister Felix Mlusu has backed the decision to increase State Residences budget, saying they need massive rehabilitation. Mlusu said after taking over power, the Tonse Government found most of the State Residences in bad shape, adding that some were even leaking. Asked why the state residences were in such bad shape when year in […]
Opposition Democratic Progressive Party (DPP) chief whip Simon Vuwa Kaunda has said many Malawians do not have food as they have no farmland as such, government should reduce the price of maize by half so that every household can afford the staple. Vuwa Kaunda was speaking in Parliament on Tuesday in reaction to Minister of Finance […]
Finance Minister Felix Mlusu is upbeat that the Tonse alliance led government will fulfill its campaign promises. He said the campaign promises include provision of free water and electricity connections. The country’s purse keeper said the works are currently in process as the policy is now being developed and that its implementation is expected to […]
A high-powered Malawi government delegation led by Finance Minister Felix Mlusu held a bilateral dialogue meeting with the European Union (EU) at Capital Hill in Lilongwe on Wednesday to request the EU to “consider the resumption of direct budgetary support” but the plea was rebuffed. Mlusu was flanked at the meeting with Minister of Foreign […]
Malawi Parliament on Monday passed the Taxation amendment Bill which among others seeks to introduce a 20 percent tax on winning bets and lotteries and also fulfill Tonse Alliance promise of K100 000 tax free band. The bill went through the committee stage without any amendment. Minister of Finance Felix Mlusu has, however, underlined that […]
The Malawi Electoral Commission (MEC) Justice Chifundo Kachale has contradicted the Minister of Finance, Felix Mlusu, on the preparedness of the Commission to demarcate wards and constituencies. Mlusu told members of Parliament (MPs) in the National Assembly that the K500 million meant for the demarcation process has been reallocated to other votes because the Commission […]
Finance Minister Felix Mlusu says the Tonse Alliance administration has resolved to consolidate multiple bank accounts operated by their ministries, departments and agencies and keep their revenues in Treasury Single Account each as part of efforts to curb abuse of public funds. Delivering a budget statement for 2020/21 in Parliament on Friday, the Treasury Czar said government […]
Finance Minister Felix Mlusu on Friday presented a K2.2 trillion National Budget which, despite government’s shrinking resource envelope, is visibly bold and ambitious in ensuring that every Tonse Alliance campaign promise is delivered. Mlusu, arguably a novice in political governance, definitely drunk immensely from Vice-President Saulos Chilima’s political and economic experience—not just as Economic Planning […]
Main opposition Democratic Progressive Party (DPP) has dubbed the Tonse Alliance first national budget as a wasted opportunity with former Treasury czar Jospeh Mwanamvekha saying the economic fundamentals delivered by Finance Minister Felix Mlusu do not give confidence. Mwanamvekha, who is DPP spokesperson of finance in Parliament, said he will give a comprehensive response to […]
Finance Minister Felix Mlusu’s K2.2 trillion 2020/2021 National Budget which he has presented in Parliament on Friday has seen the Education Sector getting the lion’s share with a whooping K384.5 billion allocation which is 21.6 percent of the total budget, representing 5.4 percent of Gross Domestic Product (GDP). Mlusu said these resources will cater for […]