Tuesday, April 20, 2021
  • About Us
  • ImagiNATION
  • Adverts
  • Rate Card
  • Contact Us
The Nation Online
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
No Result
View All Result
Home News National News

Admarc a tool for money laundering—PAC

by Enelless Nyale
20/10/2017
in National News
2 min read
0
Share on FacebookShare on TwitterShare on WhatsAppShare on LinkedinLinkedinShare via Email

The Parliamentary Public Accounts Committee (PAC) has branded the Agricultural Development and Marketing Corporation (Admarc) as a cash cow for public officials, used to launder and siphon money with impunity.

PAC chairperson Alekeni Menyani said in an interview that billions of money have been lost at the institution with nobody showing willingness to follow up or account for the lost money.

RelatedHeadlines

‘Tobacco is dying crop’

Minister upbeat on vaccination exercise

Chakwera unhappy with Neef bottlenecks

Yesterday, PAC was meeting officials from Ministry of Agriculture, Irrigation, and Water Development over the 2014/15 Auditor General’s report.

Kumwembe | The Nation Online
Kumwembe (C) speaks during the meeting yesterday

Menyani said Admarc, through the ministry, is on record to have failed to account for K9.3 billion on personnel emoluments and reasons for the failure to account for the money were not satisfactory to the committee.

Said Menyani: “You find that they even fail to account for personal emoluments at K9.3 billion. They offer no satisfactory explanation to the committee. Admarc is losing billions of kwacha but nobody wants to do a functional review of the institution and put this to an end.”

He further said even from the qualified audit report the ministry has not accounted for the money in question and other social issues such as the Farm Input Subsidy Programme (Fisp) which he also said is used to launder money.

Menyani added: “In this case, Cashgate is continuing, but with a new twist. If we are losing billions as recent as 2015, how can you say things are working?”

He said the committee has planned to engage Secretary to the Treasury, Chief Secretary to government and Accountant General to decide what type of investigation to take on Admarc.

During the interaction, controlling officer for the ministry Bright Kumwembe told the members that plans are underway to have a functional review for Admarc to clarify to the public on the duties of the institution.

He said people have forgotten that Admarc acts both as a social and business entity and as such, the business part of it is usually forgotten.

Apart from quizzing them on Admarc, the ministry was asked to explain unaccounted funds at the ministry’s headquarters, some of which they said have been recovered and others are yet to be reconciled and recorded in the Integrated Financial Management Information System (Ifmis).

There was a query for the ministry as to why there were differences in materials presented to the auditors and those in Ifmis amounting to K18.6 billion, material variances in funding figures of K22 billion, payments without supporting documents at K20.3 billion, misallocation of expenditure at K3.5 billion and K4.5 million unaccounted Fisp proceeds, among others.

In response, Kumwembe acknowledged what the auditors found but said they engaged the accountant general on the possibility of capturing the expenses to normalise the anomaly though opinion on the financial statements was already given.

He said they are yet to meet the Auditor General to map the way forward but promised that in the 2015/16 year such anomalies will not be found. n

 

Avatar
Enelless Nyale
Previous Post

Parliament’s 47th session starts Nov 10

Next Post

MPs dare public on Fisp flaws

Related Posts

FB IMG 1618917210807 | The Nation Online
National News

‘Tobacco is dying crop’

April 20, 2021
chiponda | The Nation Online
National News

Minister upbeat on vaccination exercise

April 20, 2021
chakweraa | The Nation Online
National News

Chakwera unhappy with Neef bottlenecks

April 20, 2021
Next Post
Minister of Agriculture, Irrigation and Water Development Joseph Mwanamvekha tours Mchinji Admarc in readiness of this year’s Fisp

MPs dare public on Fisp flaws

Opinions and Columns

Big Man Wamkulu

Hot babe wants to trap me, should I ran?

April 18, 2021
Political Uncensored

Mighty mess!

April 18, 2021
My Thought

Chakwera’s indecisiveness will be his downfall

April 18, 2021
People’s Tribunal

Cut the crap, act on abuse forthwith

April 17, 2021
https://www.mwnation.com/wp-content/uploads/2021/03/WFP-Afikepo-1-2.pdf https://www.mwnation.com/wp-content/uploads/2021/03/WFP-Afikepo-1-2.pdf https://www.mwnation.com/wp-content/uploads/2021/03/WFP-Afikepo-1-2.pdf

Trending Stories

  • Minister of Labour Ken Kandodo

    Ministry defends ‘borrowing’ of Covid-19 funds

    0 shares
    Share 0 Tweet 0
  • Chakwera bites

    0 shares
    Share 0 Tweet 0
  • Chilima in public projects inspection

    0 shares
    Share 0 Tweet 0
  • ‘Tobacco is dying crop’

    0 shares
    Share 0 Tweet 0
  • Suspension without pay sparks debate

    0 shares
    Share 0 Tweet 0
  • Values
  • Our Philosophy
  • Editorial policy
  • Advertising Policy
  • Code of Conduct
  • Plagiarism disclaimer
  • Disclaimer
  • Privacy Policy
  • Terms of use

© 2021 Nation Publications Limited. All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation

© 2020 Nation Publications Limited. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.