Reported By Patience Longwe:
Minster of Finance and Economic Affairs, Simplex Chithyola Banda, has announced a groundbreaking initiative to stabilize price and ensuring affordability for consumers.
He was speaking in Parliament on Friday when he presented the 2025/2026 national budget.
He said government is developing a comprehensive price stabilization policy in collaboration with private sector players and consumer protection bodies.
He said the move aims to curb price volatility which has been a major challenge for Malawians in recent times.
“By working together with stakeholders government hopes to create a more predictable and stable market environment,” he said.
He added that as part of the structural reforms authorities plan to strengthen national supply chains through strategic reserves and supply agreement.
“This will help to prevent shortages and ensure that essential goods are available to consumers at affordable prices,” he said.
Chithyola furthermore said government is taking measures to secure an adequate maize supply, including importation where necessary, to mitigate food shortages.
“This is a critical step towards ensuring food security and reducing the burden on Malawians households,” he said.
He, therefore, said the development of the price stabilization policy is a key component of the government’s efforts to promote economic growth and stability by a dressing the root causes of price volatility and supply chain disruptions, government hopes to create a more favourable business environment and improve the lives of Malawians.
