Malawi’s Finance Minister Dr Ken Lipenga today, Friday, June 8th, presents to parliament government’s financial plan for the year 2012/13, amid calls for his resignation. This follows his own revelation that the former government led by the DPP lied to the nation by presenting to parliament budget figures that were aimed at deceiving the country that the former government’s 2011/12 Zero Deficit Budget was a success.
The Ministry of Finance and the Malawi Revenue Authority conspired that the latter borrow money from banks to make up for tax under collection and create the impression that all was well with government coffers.
Ken Lipenga was Minister of Finance, a post he still holds, when these transactions were being effected but he claims all this was done behind his back, hence cannot resign as demanded by some sectors.
That Ken Lipenga is guilty or innocent in this is not yet known. What is known and cannot be disputed, though, is that his credibility as Minister of Finance has been severely battered.