BLANTYRE-(MaraviPost)-A former financial expert at Treasury says people must first understand the public pension funds management and transaction processes before implicating certain individuals in the controversial MK128.7 Billion Amaryllis Hotel deal.
He was reacting to the Human Rights Defenders Coalition (HRDC)’s demands for President Peter Mutharika to fire Finance Minister Joseph Mwanamvekha and other two senior government officials.
Speaking on strict anonymity, the expert argues that the Public Pension Fund Trust is an autonomous entity with its board of trustees, management, and bank.
He further argues that the Fund’s investments and related decisions are done by the Board of Trustees and independent investment managers.
“Section 60 of the Pension Act 2023 says that the Fund rules of the pension fund should not permit a trustee to be subject to any direction or order by any other person in exercise of the trustee’s power in relation to the fund,” he says.
President Mutharika supported the ongoing parliamentary inquiry on the hotel purchase and warned not to shield anyone involved in any corrupt dealings.
This coming week, the committee is expected to meet former Secretary to the President and Cabinet (SPC) Colleen Zamba and Attorney General (AG) Frank Mbeta.
