Government changes fiscal year
Government has changed fiscal year from 1st July and ends on 30th June and that now will be commencing on 1st April and end on 31st March.
According to Press statement released by Ministry of Economic Planning and Development, the change will be effective from 2022 – 2023 fiscal year.
Principle Secretary to the ministry, Prof Winford Masanjala said in the statement that 2020/21 fiscal year will be maintained on the current July – June calendar while the 2021/22 Fiscal Year will be shortened to nine months.
“Government will constitute a taskforce to review all affected laws and regulations,” Masanjala
But commenting on the matter, Blantyre based economic scientist, Dr Betchani Tchereni, commended government for the changes.
Dr Tchereni who is also an economic lecturer at the Polytechnic said “the changes means now the national budget will go in line with the country’s production period.”
On his part political lecturer at the Chancellor College in Zomba Associate Prof Mustaffa Hussein, said the mere change will bring nothing to Malawians but what matters is the implementation of the program.
Associate Prof Hussein advised government to work on the human resources and deploy people of integrity for the changes benefit the poor Malawians.
