An economic scientist has asked the government to seriously look into issues contributing to the recurring economic challenges affecting Malawians and the country at large.
The economist Milward Tobias said this on Friday in reaction to the low turnout of people patronizing the 36th international trade fair on the first day of its launch which have seen few international exhibitors taking part in this year’s fair.
Speaking during the launch a Chichiri Tradefair grounds in Blantyre on Thursday, Malawi Confederation Chambers of Commerce and industry (MCCCI) president Ronald Ngwira, said the decline in number of exhibitors is a s a result of forex shortage currently affecting the country.
Speaking in an interview with radio Islam, Tobias attributed the poor local patronization to economic hardships Malawians are going through, as a result of taxes that were introduced by government.
“I said this in October last year during the mid-year budget consultation when government introduce the taxes that they will heavily affect the Malawians who are already facing economic challenges, and the problem is that they introduced these taxes at a time the government had also introduce austerity measures, so it’s like they are controlling something but at the same time they are draining the pockets of people. This is why even the exhibition is not well patronized”, said Tobias.
He said people in the country have lost their buying power highlighting that people cannot go to patronize the trade fair because they do have money to buy the commodities or even make plans to buy things.
Tobias also expressed worry that this year’s trade fair may result into the country’s losing opportunities like trade deals that could help improving the country’s business economy through securing foreign exchange.
“ Trade fair provides an opportunity for businesses to showcase their products so that people and companies are able to make decision based on the information they get during the fair and also the international exhibitors when they come, some business deals ma be reached, but this year, it is very worrisome to note that the international participants are not so many because we do not have forex, so this is a loss to us”, He added.
He has since asked government to revisit some of its policies to ensure the availability of forex and that the buying power has been resuscitated to improve the country’s economy.
Speaking when he launched the fair on Thursday Minister of Trade Simon Itaye, challenged small and medium enterprises (SMEs), to embrace value addition in order to enhance the country’s exportation drive that would help the country earn more forex.
Itaye said government is committed to ensuring that entrepreneurs are operating their businesses in a conducive environment in order to improve the country’s economic standards.
He says this year’s theme: ‘promoting economic stability through enhanced production and industrialization’, highlights the need for the country to enhance value addition in as far as economic growth and industrialization is concerned.
In this year’s international trade fair, countries like India, Tanzania and Mozambique are participating and the exhibition is expected to end on 29th May 2026.
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