Chakwera says inflation on basic goods began in 1994

Malawi leader President Dr. Lazarus McCarthy Chakwera, President of the Republic of Malawi, says the genesis to the country’s upward swing of prices on basic commodities started way back in the year 1994 when politicians sold public companies.

President Chakwera made the remarks on Saturday when he presided over the ground breaking ceremony of the Magwero Industrial Park Project at Senior Chief Chitukula in area 55 in Lilongwe.

Speaking at the function, the Malawi leader said it is a blue lie to blame the current administration for the things that some politicians created years ago.

He explained that a country that relies heavily on imported goods can never experience stability on prices of basic commodities.

He said industrialization is the only key to a stable economy.

Speaking earlier, Minister of Trade and Industry Sosten Gwengwe praised Chakwera for his zeal to turn around the Malawi economy.

He told the president to focus on his development agenda and not get distracted a few people that speaks I’ll about his government.

Benedict Oramah, President and Chairman, Board of Directors, African Export – Import (AFREXIM) Bank said the coming in of industrial parks will help Malawi to stabilize it’s economy.

He added that launching of the project is also proof that good leadership makes a difference.

President of Malawi Confederation of Chambers of Commerce and Industry Dr. Wisely Phiri said the project is key to enhancing the country’s economy through production of different products.

Gagan Gupta, Chief Executive Officer ARISE Intergrated Industrial Platforms described industrial parks as a foundation for a bright future.