House passes K50bn Masaf IV Loan Bill
Members of Parliament (MPs) on Tuesday passed Bill Number 33 of 2016, which authorises government to borrow K50.25 billion from the International Development Association (IDA).
The loan will go towards “second additional financing for strengthening safety nets systems project” under the Malawi Social Action Fund (Masaf IV).
Minister of Finance, Economic Planning and Development Goodall Gondwe said the safety nets systems project aims, among others, to cushion hunger-stricken households.
Gondwe said the identified beneficiaries will undertake various development projects in their areas thereby contributing to the transformation of their societies.
But before passing the bill, Opposition MPs asked government and law enforcement agencies to put in stringent measures to arrest theft in councils.
The MPs wondered why there is no councillor has been arrested and jailed so far, yet reports indicates that they are involved in the plunder of Masaf IV resources.
