The country’s former Vice President Nkhumbo Hastings Kachali who is also opposition People’s Party (PP) Member of Parliament has trashed the decision by Government to write off Malawi Savings bank (MSB) toxic loans, saying this is a mockery to taxpayers in the country.

Nkhumbo remarks comes barely hours after the news bloke out that the government has settled off all the loans that 13 private sector players took from the now ‘for sale’ MSB and failed to repay.

According information sourced by Faceofmalawi, the government has released money amounting to MK6 billion to settle the debt and 83 percent of the said money (K4.9 billion) has gone to Mulli Brothers Limited (MBL)—whose managing director, Leston Mulli, is a known supporter of the ruling Democratic Progressive Party (DPP) and a close ally of former president the late Bingu wa Mutharika, the elder brother to the current leader, Peter Mutharika.

In statement posted on his official Facebook page, Kachali said it’s nonsense for the Government take such risky at the expense of poor Malawians who are finding it hard to sustain their day in day out needs.

“This is a mockery our intelligence and dignity, and worst, it is a blatant declaration by those in authority that the more than 16 million of us Malawians are all chuckleheads.

“Honestly, how can one justify holding of the whole country to ransom to give more than MK5 billion to a notorious ruling DP party functionary, who boasts to be the richest Malawian and disrespects his servants in public?” said Kachali.

Added Kachali: “I am at pains to understand how Treasury would be all over defending decision that will effectively results result in the poorest citizens wallowing in harsh poverty being forced to hand over money to filthy rich criminals (for this is who they really are)

“It s pure nonsense for the Government to hoodwink Malawians in believing that it intends to recover the money through a ‘debt collection unit’ from these racketeer thugs, nope! Who is best suited to collect the money, if Not the Bank itself? Why not declare Mulli Brothers Limited bankrupt and ban it from doing business?”.

The government decision to write of MSB loans comes just after the move to sell the state owned Bank failed to materialize as many people protested, saying this is injustice to Malawians.

(Visited 10 times, 1 visits today)
0
Subscribe to our Youtube Channel :