Malawi’s Minister of Finance Ken Lipenga will present his 2013/14 budget statement to parliament on Friday an annual budget likely to stick firmly to Joyce Banda government’s austerity drive as the country’s economy continue to heal. Speaker of Parliament Henry Chimunthu Banda said the government’s purse keeper will present the budget on Friday afternoon. “After the business committee […]
Minister of Finance Dr. Ken Lipenga says government is putting in place policies to ensure that the appreciation of the kwacha is sustainable. Speaking in reaction to Leader of opposition John Tembo response to the state of the nation address, Lipenga said the country has to deal with structural problems in the economy. “The cycle […]
Malawi inflation has shed a 1.5p percentage points on the February figure to 36.6 percent in March, the National Statistical Office (NSO) has said. But the fall in the rate of inflation does not imply a fall in the price of goods. Rather, NSO attributed the ease on mounting pressure on inflation rate during the […]
Finance Minister Ken Lipenga faces new calls to resign and pave way for investigation after being accused of using his influence to award a US$76.2 million worth of contract to an Indian company, Malawi News reported on Saturday. According to an open letter by some staff member of the Ministry of Finance, dated March 3, […]
Participants to the second 2013/14 pre-budget meeting held in Mzuzu but meant for northern region participants were disappointed with absence of Finance Minister Ken Lipenga whom they wanted to clarify a number of things and also get their inputs into country’s financial blue print. Ministry officials failed to give reasons for Lipenga’s absence. Instead newly […]
Malawi Government has admitted that the country is lagging behind to sensitize potential investors on business incentives the country has. Minister of Finance, Ken Lipenga said this in an interview with the Malawi News Agency on the sidelines of the 2013-2014 pre-budget meeting his ministry conducted in Blantyre. Lipenga said if investors were fully aware […]
The Society of Accountants in Malawi (SOCAM ) has asked government to move with speed to ensure that the kwacha which was devalued some months ago get stabilised. SOCAM’s Chairperson of Accounting and Economic Affairs Committee, Andrew Chinoko said this in Blantyre during the t pre-budget consultation meeting the ministry of finance conducted with representatives […]
Finance Minister Ken Lipenga has defended Malawi Government expenditure of K1.6 billion (about $4.1m) on a new fleet of four-wheel-drive Toyota Prado TX models for 35 ministers and their deputies amid painful economic reforms that are impacting on 65 percent of the 14 million people living below the poverty line. Lipenga, answering a question from […]
Finance Minister Dr Ken Lipenga will present to Parliament the revised midterm before the current session ends next week, Leader of the House Henry Phoya told the House on Friday. Phoya, who is also Minister of Lands and Housing, said changes had to be made to the original mid-term budget presented by Lipenga two weeks […]
Opposition Malawi Congress Party (MCP) and the Democratic Progressive Party (DPP) have warned the Joyce Banda administration against spending extra money illegally after Minister of Finance Ken Lipenga on Thursday withdrew the Mid-Term Budget Supplementary Bill. Lipenga, whose credibility as the country’s purse keeper is questionable, told a news conference Thursday evening that the Mid-Term Budget […]
That this Government is lurching from shambles to shambles is the fault of no one other than President Joyce Banda and her ministers. From the utter chaos over consumers to panic at Capital Hill – it is the decisions of Joyce Banda and her ministers that are to blame for the current mess her Government […]
Opposition parliamentarians in Malawi on Monday had time to flex their numerical muscles again at President Joyce Banda’s government when they refused to curtail the debate on the midterm budget statement when government moved the motion. The opposition are now in majority after they were joined by the UDF at the start of this meeting. […]
Malawi’s opposition People’s Progressive Movement (PPM) president Mark Katsonga has called for an immediate resignation of President Joyce Banda and her administration to make way for early elections. Katsonga told a news conference in Blantyre on Friday that President Banda could not go up to next year’s polls at the rate she was going, saying she should […]
The Ministry of Finance on Thursday admitted that some commercial banks in the country are ripping too much from Malawians. The minister of finance Dr. Ken Lipenga was speaking in Parliament when he answered a question posed by the Member of Parliament for Ntcheu North East Everton Herbart Chimulirenji who wanted the minister of finance to […]
Civil servants in Malawi have remained adamant and continue defying government’s call to end their stay-away as the situation is steadily getting worse. There is no sign of an end to the ongoing nationwide strike which is in its second week as more essential government sectors have also started downing their tools. Public teachers across […]
Opposition Malawi Congress Party (MCP) and Democratic Progressive Party (DPP) ganged up on Friday in questioning the credibility of Finance Minister Dr Ken Lipenga in his 2012/13 mid-year budget statement. Lipenga was the country’s purse keeper who oversaw the exaggeration of revenue figures under the Bingu wa Mutharika administration during the infamous zero-deficit budget. He […]
Malawi Finance Minister Dr Ken Lipenga says by adopting the Automatic Price Mechanism (APM) on fuel in May 2012, it has saved K36 billion an amount which could cut into the Budget or incur increased borrowing. Lipenga disclosed this on Friday when he presented the Mid-Year Budget Review statement in Parliament, Lilongwe. The Minister said […]
Finance Minister Dr. Ken Lipenga on Friday announced a revised 2012/2013 Fiscal Year Budget which has been revised from K461.4bn from K394.9bn. Lipenga said Domestic Revenues had been revised upwards to K278.9 billion from K 270.4 billion approved in the Budget and that the revised targets comprise K243.8 billion tax revenues and K35.1 billion non […]