Mystery over government’s K16 billion booty | The Times Group: "Mystery over government’s K16 billion booty
Posted By: Jameson Chaulukaon: June 05, 2018In: NationalNo Comments
While the country’s economy is struggling with local and international loans and their accumulative interest, the government says it does not know what to do with K16.2 billion it earned after selling Malawi Savings and Inde banks three years ago.
Ministry of Finance spokesperson, David Sado, said on Friday the money was still stashed at the Reserve Bank of Malawi (RBM) as the government has not figured out what to do with the money.
“The money is there at the Reserve Bank of Malawi. There are several options we are looking into and, when the government makes its decision, we will come back to you. We want to invest the money in projects that [may help us] benefit out of it. We are looking at several investment projects such as irrigation,” he said."
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Posted By: Jameson Chaulukaon: June 05, 2018In: NationalNo Comments
While the country’s economy is struggling with local and international loans and their accumulative interest, the government says it does not know what to do with K16.2 billion it earned after selling Malawi Savings and Inde banks three years ago.
Ministry of Finance spokesperson, David Sado, said on Friday the money was still stashed at the Reserve Bank of Malawi (RBM) as the government has not figured out what to do with the money.
“The money is there at the Reserve Bank of Malawi. There are several options we are looking into and, when the government makes its decision, we will come back to you. We want to invest the money in projects that [may help us] benefit out of it. We are looking at several investment projects such as irrigation,” he said."
'via Blog this'
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