Malawi: Skc to Leverage Pension, Bank Funds to Fund Malawi Development Projects - 'Avoid Defeatist Attitude'

3 September 2018

Vice President Saulos Klaus Chilima (SKC) has said his United Transformational Movement (UTM) will leverage billions of idle funds in Pension funds and banks to national development projects if ushered into power during the May 21 2019 Tripartite Election.

Chilima said this at a UTM rally he addressed at Ntcheu Secondary School ground on Sunday, saying they will enact laws to enable use of the Pension Fund to support businesses and create jobs for so that the fund benefits majority of Malawians than the current status where the money is lying idle or benefiting only a few through bonuses.

"Current laws may make it difficult to access pension's funds for development and as such we will put parliament to work to ensure laws are conducive to make these funds accessible," he said.

Chilima said funds for financing UTM development agenda are already available in Malawi.

"I have told you where the billions are lying idle so go ahead and steal the idea but rest assured the people know who to vote for as they know where they heard it first," he said referring to other political parties that had been saying that UTM development agenda is untenable due to limited financial envelop.

Chilima urged Malawians to optimistic and not pessimistic if the country is to move forward.

The Vice President, who previously worked in the private sector including Unilever, Carlsberg Malawi, and rose to become the first Malawian managing director of Airtel Malawi limited, talked of fresh start to revive Malawi economy

He mentioned several prominent local businesspersons, including Lambart's Variety Centre, Mike Mlomba of Countrywide Car Hire, Thom Mpinganjira of FDH Financial Holdings and Zagaf Transport, saying they took off from humble beginnings but developed their potential in their business establishment.

Chilima said Malawians should avoid defeatist attitude, insisting that UTM will create one million jobs within 12 months spearheaded by youth-led cooperatives.

He dwelt much of the speech outlining UTM agenda, saying the movement was born out of a strong desire to see a better Malawi for everyone.

"UTM has come not to seek power, but to seek legitimacy and political space to transform Malawi. To create a Malawi that is free of corruption, nepotism and tribalism, a Malawi with new and progressive politics and with strong foundation for sustainable development," he said.

He said currently there is wanton plunder of resources being perpetrated by the current regime and that nepotism in public appointments has now become their mainstay.

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