{"id":68214,"date":"2018-07-07T07:42:05","date_gmt":"2018-07-07T05:42:05","guid":{"rendered":"http:\/\/www.times.mw\/?p=68214"},"modified":"2018-07-09T09:11:19","modified_gmt":"2018-07-09T07:11:19","slug":"another-candal-admarc-bypasses-treasury-in-k7-billion-expenditure","status":"publish","type":"post","link":"https:\/\/archive.times.mw\/index.php\/2018\/07\/07\/another-candal-admarc-bypasses-treasury-in-k7-billion-expenditure\/","title":{"rendered":"ANOTHER SCANDAL!: Admarc bypasses Treasury in K7 billion expenditure"},"content":{"rendered":"

BY REBECCA CHIMJEKA:<\/strong><\/p>\n

\"\"<\/a>The plunder of public resources continues and there is now new revelation by the Public Accounts Committee (Pac) of Parliament that most public institutions which collect revenue are using the proceeds without authorisation or clearance from Treasury.<\/p>\n

According to a 2018, report by the Pac which Malawi News has seen, Agricultural Development and Marketing Corporation (Admarc) and Malawi Police Service (MPS) are among public institutions that have been mentioned.<\/p>\n

The report has revealed that Admarc used about K7 billion without clearance from Treasury.<\/p>\n

The MPS has been faulted for using revenue from traffic fines without the nod from Treasury.<\/p>\n

“The committee [Pac] was shocked to note that Admarc spent revenue in excess of K7 billion from the sale of Malawi Government maize without authority from Treasury. As though that was not enough, Admarc repeated this misconduct on proceeds from the sale of fertiliser and what was also surprising was the Malawi grain trading company claimed 40 percent of the revenue as operating expense,” reads part of the report<\/p>\n

This revelation comes after Minister of Finance, Goodall Gondwe, told the International Monetary Fund (IMF) that the government bailed Admarc with K45 billion, a thing the IMF was against.<\/p>\n

Ever since Admarc was commercialised during the United Democratic Front regime, the grain trading company has never posted a profit and survives on government bailouts.<\/p>\n

However, Treasury spokesperson, Davis Sado, said the government has systems in place to tackle the issue.<\/p>\n

\u201cWe will find ways to deal with the matter as soon as we receive the report,\u201d Sado said.<\/p>\n

The Public Finance Management Act stipulates that no controlling Officer can spend money from any government institution without the approval of Treasury.<\/p>\n

Chairperson of Pac, Alekeni Menyani has said the committee will proceed to look into the issue further.<\/p>\n

\u201cWe have not done any quantification but this was a particular querry noted by the Auditor General,\u201d Menyani said.<\/p>\n","protected":false},"excerpt":{"rendered":"

BY REBECCA CHIMJEKA: The plunder of public resources continues and there is now new revelation by the Public Accounts Committee (Pac) of Parliament that most public institutions which collect revenue are using the proceeds without authorisation or clearance from Treasury. According to a 2018, report by the Pac which Malawi News has seen, Agricultural Development […]<\/p>\n","protected":false},"author":3,"featured_media":37948,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-68214","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/68214","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/comments?post=68214"}],"version-history":[{"count":2,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/68214\/revisions"}],"predecessor-version":[{"id":68233,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/68214\/revisions\/68233"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media\/37948"}],"wp:attachment":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media?parent=68214"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/categories?post=68214"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/tags?post=68214"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}