Chithyola fires shots at parastatal heads: Warns against extravagance, tells them, ‘Go and deliver’
Minister of Finance Simplex Chithyola Banda on Thursday took a swipe at some heads of parastatal warning them against extravagant spending and also challenging them to go, work and deliver.
Speaking in Lilongwe during the signing ceremony of shareholders letters of expectations, Chithyola appealed to the parastatals to work hard and register profits, adding that his ministry has developed a performance assessment tool to guide institutions to perform.
“This is the reason I am urging you to submit monthly reports so that we are able to move together. As provided in Section 93 (1) of the Public Finance Management Act of 2022, all State-Owned-Enterprises are required to submit to Secretary to the Treasury their Performance Management Plans and Budgets (PMPBs), 3 months before commencement of the ensuing financial year. We have registered a significant improvement in compliance with the calendar especially by commercial SOEs,” he said.
The Minister warned parastatal heads against extravagance, noting that his predecessor worked so hard to ensure there is compliance.
Chithyola has since warned non-complying parastatal they will not be left scot-free, advising them to set down budgets as well as provide quality service to customers.
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