Ministry of Labour wants K1.5 billion for Workers’ Compensation Fund

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The Ministry of Labour, Skills and Innovation has asked for seed money amounting to K1.5 billion for Workers’ Compensation Fund.

The ministry on Wednesday appeared before the Parliamentary Committee on Social and Community Affairs to appraise the Committee on the ministry’s mandate and the programmes they are implementing.

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In their presentation, the Ministry of Labour requested for seed money amounting to 1.5 billion Kwacha (K1,500,000,000) for Workers’ Compensation Fund.

According to the Ministry’s Principal Economist, Yona Chawanje, Malawi is the only country in Southern Africa region without a comprehensive security system.

He added that payment of workers’ compensations depends on the employers’ liability.

Chawanje noted that it is imperative to establish the fund to guarantee availability of funds for workers’ compensation cases.

The Ministry of Labour, Skill and Innovation is mandated to develop and protect the labour force in order to contribute to the socio-economic development in Malawi.

Chairperson of the Committee, Honourable Savel Kafwafwa urged the officials from the ministry to organize another meeting for further interface to discuss the K1.5 billion seed money in details preferably before Parliament sits for the 2020/2021 Budget Meeting.

Source: Malawi Parliament