Parliamentary maize inquiry wants cancellation of PTA bank loan

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The joint parliamentary committee on the maize deal has disclosed that it is to appeal to legislators in the National Assembly to consider cancelling a loan obtained from Preferential Trade Area (PTA) Bank meant to be used for buying maize.

The development comes at a time when reports reveal that the country has enough maize hence has no need to buy the staple grains from other countries.

Chairperson of the joint committee Joseph Chidanti Malunga said they are to urge the members to cancel the loan and pay back the money to avoid embezzlement.

Dr. Joseph Chidanti Malunga

Dr. Joseph Chidanti Malunga : Heads the committee.

The money is currently under Zambia Cooperate Federation (ZCF) account as the process of supplying maize to Malawi has been blocked by a court in Zambia following reports of breach of contract between ZCF and Kaloswe Courier and Commuter.

Members of Parliament (MPs) authorized government to borrow $34.5 million from PTA Bank to buy the staple grains following reports of hunger in Malawi.

However, the process of buying maize has been marred with irregularities as reports show that there was a suspected plot to steal some of the money.

The development forced parliamentary committees of agriculture and public accounts to come together and probe the accusations of corruption in the maize deal.

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