Home » Business » Malawi Government Peggs The 2019/2020 National Budget At K1.7 Trillion…Minimum Wage Adjusted Upwards

Malawi Government Peggs The 2019/2020 National Budget At K1.7 Trillion…Minimum Wage Adjusted Upwards

By Malawi Freedom Network

Malawi Government Peggs The 2019/2020 National Budget At K1.7 Trillion…Minimum Wage Adjusted Upwards

Government of Malawi (GoM) through Minister of Finance, Joseph Mwanamvekha has on Monday, September 9, 2019 presented to the National Assembly a MK1.7 trillion national budget for the financial year 2019/2020.

In the budget, government has increased minimum wage from K962 to K1, 346 per day, which is about MK35,000 per month from the current MK25,000. The Minister said the increase has been effected to protect the low paid workers.

Also in the budget, the Ministry of Education has been allocated lion’s share of MK172.8 billion representing a 21 percent increase from last year.

The allocation has also seen an increase in Pay As You Earn (PAYE) tax-free bracket from K35,000 to K45,000 and as Mwanavekha puts it, this takes into account the cost of living.

The allocation has further seen government introducing tax on all imported vegetables, fruits, cement and sugar just to mention a few.

However, a tax reduction on imported motorcycles has been announced in the budget allocation with an explanation “to ease transportation in rural areas” from the minister.

In order to reduce greenhouse gas emissions, government has also introduced Carbon tax on vehicles.

On Farm Input Subsidy Program (FISP), allocation of MK35.5 billion has been made with an announcement of targeting 900,000 beneficiries.

Money amounting to MK400 Million has been allocated for the implementation of the action plan for the protection of People with Albinism.

The youth internship program has been allocated MK4.4 billion with an announcement of 2000 youths to be allocated this year.

As expected in line with what President Peter Mutharika had announced a few days ago, MK1.6 billion has been allocated for the construction of Nyasa Big Bullets and Be Forward Wanderers stadiums.

Additionally, money amounting to MK200 million has been allocated for the construction of the indoor netball court.

Earlier in the day, Leader of Oppostion Lobin Lowe stood on point of order as he wanted to know why President Peter Mutharika was not in Parliament to address the nation according to Standing Order 200.

In response, Speaker of Parliament, Catherine Gotani Hara said, there was nothing out of order because the President had already addressed the nation during the opening of the 48th Session of Parliament.

Malawi Freedom Network
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