Parliament has expressed concern over the scaling down and possible shutdown of Maldeco Fisheries, a Press Corporation subsidiary, which requires a 10 billion kwacha recapitalization to continue operations.

Welani Chilenga, chairperson of Parliament’s Natural Resources and Climate Change committee, highlighted the issue during a meeting with officials from the Ministry of Natural Resources and Climate Change.

Chilenga noted that despite having Maldeco Fisheries, the country still produces insufficient fish, and proposed establishing a public entity for fish production.

Principal Secretary Yusuf Mkungula supported the proposal and mentioned that the ministry would seek prospective investors, including some from Morocco.

The ministry reported that Maldeco Fisheries, which has been facing internal challenges, currently produces only 200,000 metric tonnes of fish for local consumption and 100,000 metric tonnes for export to countries like Japan and the DRC.

This production amounts to only a billion kwacha annually.

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