Chanco risks closure over K5bn deficit

The Parliamentary Committee on Education has called on tertiary education institutions in the country to find ways of mobilizing resources in order to sustain their operations.

Chairperson for the committee, Dr. Elias Chakwera said this after touring University of Malawi’s Chancellor College in Zomba where it was discovered that the institution will need K5 billion by March 1 next year for its operations before the next financial year on July 1, 2019.

“What actually happened is that the funding per budget was not adequate enough to cater for additional wage bill which was experienced from last time that the wages were revised.”

Dr. Chakwera described the situation as a “genuine need” which will require strong support from Parliament.

He however pledged to ask for government’s quick action on the issue.

“We have been told that government has advised Chancellor College to continue to draw from money that they already have and this money end up to February,” Dr. Chakwera said.

In his remarks, Chancellor College Principal, Professor Richard Tambulasi said the visit by the Members of Parliament (MPs) was timely as among others, they have appreciated how the de-linking process is going on.

“This was a critical meeting because we were able to highlight various issues of progress, the challenges that we have with the budget and also particular issues we are dealing with in terms of the de-linking process in particular asking them to help on a number of fronts,” he said.

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