Parliament accepts amendment proposal

Parliament yesterday accepted a proposal from the Budget and Finance Committee to amend the Reserve Bank of Malawi Amendment Bill tabled by Minister of Finance, Economic Planning and Development Goodall Gondwe.

The much-awaited bill—which, among others, seek to reduce government representation on Reserve Bank Board and also reducing government domestic borrowing —was agreed unanimously by members of Parliament (MPs).

Reading the proposal, chairperson of the committee Rhino Chiphiko said government needs to re think its position on the amendment.

Supporting the proposal was People’s Party (PP) chief whip Ralph Jooma, who said Malawi is still volatile and cannot be given a limit as to how much it can borrow.

Jooma said: “Why should such a bill be passed, we need to incorporate the proposal otherwise why should there be no accountant general on the board?”

Leader of Opposition Lazarus Chakwera said government also needs to exert fiscal discipline in all its dealings.