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K5.2 billion off Medf farm inputs value
['Andrew Viano', 'Awistackyo Kabwinja', 'Wasili Gomani', 'William Nthala', 'Isaac Chikuniwenda Mtonga']
Nation Online
Delayed disposal of farm inputs and irrigation equipment held by the Malawi Enterprise Development Fund (Medf) has resulted in a loss estimated at K5.2 billion, a Board of Survey report has revealed.
Medf had warned at the time that every month of delay would reduce the value of the stock.
Among the losses, 39 150 maize seed packets in Mponela, 12 225 maize seed packets and 1 050 bean seed units in Mzimba were declared beyond recovery.
Irrigation equipment accounted for the largest share of the remaining inventory, with a discounted value of K4.62 billion, followed by maize seed (K1.85 billion) and granular fertiliser (K1.70 billion).
He urged Medf to work with the Ministry of Agriculture to channel usable inputs to Agricultural Development Divisions for winter cropping instead of disposing of them.