PAC to engage President Joyce Banda on Malawi’s economic hardship

Public Affairs Committee (PAC) says it plans to hold talks with President Joyce Banda and other financial captains on the status of the country’s economy which is currently on its sick bed and requires suitable revival plan.

PAC says, in its advocacy programme, among the financial gurus, it intends to engage with the governor of the Reserve Bank of Malawi (RBM) and the Minister of Finance to look into issues that can save Malawians from further hardships.

In a statement issued on Monday, the interfaith organization says its move follows complaints by majority of Malawians about the prevailing economic torments.

“PAC is aware that most Malawians have complained about the economic hardship. Within  its  advocacy programme,  PAC  will  engage  with  Reserve  Bank  Governor  and  Minister  of  Finance  prior   to   engaging the  Head  of  State,” says the statement signed jointly by its acting Chairperson, Sheikh Imuran Shareef Mahommed and Publicity Secretary, Rev Maurice  Munthali.

The grouping further says it will continue to tackle constitutional matters in particular the contentious Sections 64 and 65 and other emerging issues.

Early last year, PAC, which is an interfaith organization made up of the main Protestant, Catholic and Muslim faith groups in Malawi, gave late President Bingu wa Mutharika a 60-day ultimatum to fix the economy or resign.

Many Malawians are facing acute economic hardships as a result of the touted austerity measures put in place by President Banda such as devaluation and floatation of the kwacha which have resulted in everyday rising costs of basic necessities.

But since taking over government, President Banda has remained upbeat to turn around the economy, repeatedly claiming that her administration’s policies are producing a robust economic recovery.

Other economic experts both local and international have also backed her economic recovery plans saying she has set a foundation for improved growth.

The Malawi economy is predominantly agricultural, which accounts for about 37 percent of the country’s GDP and 85 percent of export revenues.