Escom squeezed, treasury rebuffs K58bn bail-out plea

Ministry of Finance, Economic Planning and Development has refused to honour a K58 billion financial bail-out request from  technically insolvent power utility Electricity Supply Corporation of Malawi (Escom) to enable it provide reliable power supply. Escom says it found itself in the situation after its split that gave birth to Electricity Generation Company (Egenco) on…

Goodall says K4 billion an ‘experiment’

Finance Minister Goodall Gondwe yesterday changed his tune over the K4 billion earmarked for disbursement among constituencies, saying the funding was an experiment outside the current mechanisms. But analysts have described the minister’s explanation as unconvincing and suspicious. Speaking when he addressed the media at Parliament Building in Lilongwe, Gondwe reiterated that the K4 billion,…