by Taonga Sabola, 12 January 2006 - 05:06:02
Economic analysts have applauded the move by Member of Parliament for Mangochi Malombe Maxwel Milanzi to withdraw the impeachment motion, saying it will bring in lost confidence in the economy.Milanzi withdraw the impeachment motion on Monday this week after discovering that the proposed ouster was unpopular.Society of Accountants in Malawi (Socam) Executive Director Hennox Mazengera said in an interview on Wednesday that the motion had greatly affected the confidence of both investors and donors.“The withdrawal of the motion will definitely bring renewed confidence into the economy,” said Mazengera.He pointed out that the motion had affected other industries like tourism since people were unwilling to visit a country marred by political tension.Malawi Confederation of Chambers of Commerce and Industry (MCCCI) Chief Executive Chancellor Kaferapanjira concurred with Mazengera.“It will take away the cloud of uncertainty that was there are and bring peace in the land as people will be assured of a continuity in the leadership,” said Kaferapanjira.During the last sitting of Parliament, MPs spent close to K56 million on debates that were dominated by impeachment, according to a report by the Malawi Economic Justice Network (Mejn).Economists Association of Malawi (Ecama) said the withdrawal of the motion would give MPs a chance to discuss pertinent issues that have a bearing on economic development.Ecama spokesperson Harold Ngalawa said as professionals; they strongly believe that there was no economic benefit from impeachment.“Members of Parliament will now have a chance to discuss issues like fiscal prudence as to whether it exists or not rather than spending money on such an issue [impeachment],” said Ngalawa.
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