Blantyre –based business magnate Jimmy Korea Mpatsa has faulted the country’s huge foreign exchange expenditure on fertilizer whose produce maize was not being exported to earn back the forex for the country.
Speaking on Tuesday during Capital FM’s Straight Talk Programme, Mpatsa — a former Malawi Confederation of Chambers of Commerce and Industry (MCCCI ) president, observed that the subsidy programme is only subsidizing consumption.
“Are you surprised that we have forex problems in this country? I am not,” said Mpatsa.
He said Malawi should spend most of its foreign exchange on things that can be used for production of exports.
Minister of Industry and Trade John Bande said in a statement yesterday no person is allowed to export maize or maize products.
“The ministry wishes to emphasize that the export ban on maize and maize products has not been lifted. As such, no person is allowed to export maize and maize products. If found, the exporter shall be prosecuted,” said Bande.
Analysts say impoverished Malawi loses K16 billion (about US$50 million) in the Fisp programme due to post harvest loses.
Malawi has this year pumped in K40.8 billion in the programme but experts say, the country loses 40 percent of the yields to post harvest loses