George Lumwira 6 posts 0 comments

Property giant, MPICO has reported in its latest financial results that the government’s rental arrears have worsened in the year ended 31st December 2019 to K5.8 billion from K2.3 kwacha in 2018.

Government has recorded a deficit of K102.7 billion during the second quarter of the fiscal year 2019/2020 which is considerably higher than 58.8 billion it recorded in the previous quarter, it has been established.

The increase has been attributed to good care of the livestock by cooperatives according to Herbert Chagona the Executive director of the association.

A team of field workers comprising of officials from the Tobacco Commission, TAMA and representatives from other industry stakeholders have been on the ground since a fortnight ago assessing the leaf development at its initial stages.

Economic experts have predicted continued hostile business environment in short to medium term as the country is preparing for a fresh presidential election.

Their long-day-wait at Mzuzu auction floors has been nothing but a disappointment courtesy of perennial disagreements over prices between buyers and growers.