The story that governments of Malawi had struck a deal South Korea to export labour turned that it was yet another pack of lies and deceit. If there’s any truth in it then it probably lays somewhere between the government of Malawi’s claim that it was a done deal and South Korea’s denial of such […]
Malawi Parliament on Friday unanimously approved the National Budget to enable the government fund its operations in the financial year of 2013/14. The lawmakers nodded to the financial plan after passing the remaining three votes as part of the K630.5 billion allocated to various ministries and departments on the financial year starting July 1, 2013. […]
Malawi Parliament on Monday passed five votes namely, State Residences, National Audit Office, the Judiciary, Office of the President and Cabinet, and Department of Human Resource Management and Development without amendments. Parliamentarians, however, sought clarifications from Finance Minister on some allocations within the State Residences vote which has a total funding of MK3, 675,142,640. Malawi […]
Malawi Government has backed the current water and electricity tariff hike saying it is the only way that will allow Electricity Supply Corporation of Malawi (ESCOM) and Water Boards to maintain machinery used in their service delivery. Speaking during a speech Friday in Parliament, Minister of Finance, Dr. Ken Lipenga said the aim of the […]
Malawi Parliament on Monday passed five votes namely, State Residences, National Audit Office, the Judiciary, Office of the President and Cabinet, and Department of Human Resource Management and Development without amendments. Parliamentarians, however, sought clarifications from Finance Minister on some allocations within the State Residences vote which has a total funding of MK3, 675,142,640. Malawi […]
Private investors in the country will now have to apply for consideration for duty and tax waivers through Malawi Revenue Authority (MRA) which will consider the applications in line with existing tax laws and procedures. Minister of Finance Dr. Ken Lipenga said in a statement that investors, companies, institutions and individuals should note that his […]
Opposition Democratic Progressive Party (DPP) lawmaker for Nsanje South West, Vera Faramenga Chelewani, was forced to withdraw her “unparliamentarily remarks” after she labeled Finance Minister Ken Lipenga as a “comedian.” In her contribution to the 2013/14 budget proposal, Chelewani told parliament that she was not impressed with the way Lipenga unveiled the financial plan, saying “the ministerial […]
“In Weekend Nation newspaper, award winning columnist Ephraim Munthali of the ‘Cut the chaff’ has taken a critical approach on President Joyce Banda’s state opening address of Parliament which she announced the establishment of a Mudzi Trust Fund . Here is the full article as it appeared: Now that the contours of the K638.2 billion 2013/14 national budget […]
The Centre for Social Concern (CfSC) , a Malawian research organization, has described the tax incentives extended by Finance Minister Ken Lipenga to various sectors of the economy in the 2013/14 national budget as unnecessary, saying tax incentives have proven not be effective in encouraging investors. Instead, CfSC says the tax breaks have left fiscal […]
Another strike is looming in Malawi’s civil service following dissatisfaction over how government has handled the civil servant’s salary increase in the 2013/2014 budget. The Civil Servants Trade Union (CSTU) on Friday was forced to organise an impromptu meeting with its members at Capital Hill where the workers expressed concerns that there were not happy with the […]
If Civil Servants were hoping that they would push the government into raising their salaries anytime soon they should forget—as news coming from the Capital Hill says the salary increments will only be made in the 2013-14 financial year. It had become a norm that, every year, when the finance minister is presenting budget in […]
Malawi’s former Finance Minister, Friday Jumbe and former Central Bank governor Victor Mbewe have described as “vain” a key statement made by the Finance Minister Ken Lipenga during the presentation of 2013/14 budget in parliament on Friday, saying it failed to highlight, clarify and summarize issues contained in the main financial plan. The two renowned economists speaking on ‘Contemporary Issues’ […]
As a faithful tax payer of this Malawi nation, I take this simple opportunity honorable minister to congratulate you on the successful presentation of the national budget for 2013/14 to the tune of MK604.4 billion from 460.9 billion in the 2012/13 budget. It was a nicely crafted speech displaying your total control of the pulse […]
One of the country’s renowned economists and human rights campaigner, Mavuto Bamusi, has described the 2013/2014 K603 billion national budget which was presented in Parliament on Friday by Finance Minister Ken Lipenga as a “a risky budget.” During interviews monitored on local radio, Bamusi said: “It is a political budget, a risky budget as it has given away […]
The Executive Board of International Monetary Fund (IMF) is expected to jet in the country next month to conduct its third review on economic performance under a program supported by the Extended Credit Facility (ECF) arrangement, Minister of Finance Ken Lipenga has said. The third review comes two months after the Board completed its second […]
Malawi’s Finance Minister Dr Ken Lipenga has estimated that the potential rate of the 2013 domestic economy growth is going to rebound to 5.0 percent up from 1.8 percent in 2012 with expenditure pegged at K479.1 billion by the end of the financial year compared to K475.8 billion revised at Mid-Year. Mechanically, growth would be […]
Malawi’s Minister of Finance, Ken Lipenga, on Friday presented the long awaited President Joyce Banda’s second national budget with a declaration that government will continue with its harsh reforms it undertook last year. Lipenga stood with confidence in front of MPs in the Houses of Parliament saying the “key objective” of the government is to “restore macro-economic […]
Malawi’s Minister of Finance, Ken Lipenga, on Friday presented the 2013/14 budget statement to Parliament on in the capital Lilongwe, saying the the financial plan will continue with measures that will heal and recover the country’s economy. He told Parliament that the government of President Joyce Banda will continue to take “painful medication” as signs […]