MCCCI cautions government on some austerity measures

Malawi Confederation of Chambers of Commerce and Industry MCCCI has cautioned government against some of the austerity measures which were announced by the president and chief secretary to cabinet recently

President of MCCCI Lekani Katandula was speaking during official launch of private sector labs that are a platform for discussions between private sector and government on how to address challenges that are affecting the country’s growth.

Katandula said the banning of lakeshore conferences will adversely affect tourism sector hence urging Chakwera to reconsider the decision.

“Devaluation of Kwacha is a good start in correcting economic challenges but urged the country to focus on reduction of consumed imports and engage in export oriented initiatives,” Katundula

The MCCCI President called on government to put in place measures that stir private sector growth and concurred with Chakwera on the need for collaboration between private and public sectors.

In his speech Chakwera said therefore directed government officials to attend the labs, listen and act on the recommendations stressing that time for action is now.

He also said is waiting for a set of commitments from government department and agencies, private sector, local and international financers.

In her remarks, resident representative for International Finance Cooperation IFC Madalo Minofu says the labs will play key role in eliminating barriers to private sector investment.

Minofu has also pledged IFC continued funding in skill and development programmes.

The labs will run from Friday 17 June to 24 June 2022.