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'We Will Not Tolerate Corruption'- Chakwera
Malawi leader Dr Lazarus Chakwera said Friday during his inaugral State of the Nation Address (SONA) that his administration will not "tolerate corruption nor interfere in the affairs of institutions fighting corruption." On Economic Prospects for 2020/21 financial year, Chakwera said the success of Malawi's economy "will be anchored on institutional foundation." "We will observe the rule of law in order to provide predictability of the political and economic environment, we will provide the necessary security to all residents," the President said during the 49th session of Malawi Parliament. K315 BILLION DEFICIT The President said during the 2019/20 fiscal year, Malawi recorded a revenue of K1.527 trillion against an expenditure of K1.841 trillion. He said this led to a deficit of K315 billion, which was financed by domestic borrowing, resulting in the crowding out of the private sector from accessing financial services for productive purposes
Govt warns contractors who erect substandard structures out of funds sourced by community based organizations
The government has issued a stern warning against contractors who erect substandard structures out of funds sourced by community based organizations. The stern warning came when Minister of Tourism, Culture and Wildlife Michael Usi handed over a teacher’s house in Salima district. The house was built by the Mangochi-Salima Lake Park Association (MASALAPA) with finances generated from the Lake Malawi National Park tourist operations. MASALAPA Chairperson Brighten Ndawala told the gathering that they spent K4 million to construct the house. But in reaction, Usi called the building substandard for a K4 million budget before demanding a breakdown of the expenditure.
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