Africa-Press – Malawi. Malawians should brace for higher fuel prices as the Peter Mutharika administration prepares to implement tough economic reforms aimed at stabilizing the country’s finances and restoring growth.
Speaking at the Economics Association of Malawi (ECAMA) Annual Conference, Minister of Finance Joseph Mwanamvekha confirmed that the government will soon remove fuel subsidies, triggering a significant adjustment in pump prices.
Mwanamvekha said the move is part of a broader economic recovery plan anchored in the new government’s manifesto, which prioritizes fiscal discipline, local debt restructuring, and domestic revenue mobilization.
“The government is ready to make tough decisions outlined in our manifesto and the economic recovery framework. Some of these reforms, including fuel price adjustments, will begin immediately,” Mwanamvekha said.
He revealed that Malawi’s monthly fuel import bill has surged from US$35 million to nearly US$60 million, a situation he described as “unsustainable under the current subsidy regime.”
According to the minister, the removal of subsidies is intended to reflect the true cost of fuel while freeing up resources for productive sectors such as agriculture, tourism, mining, and manufacturing.
“The President doesn’t owe any votes,” Mwanamvekha added. “He wants to do the right thing and show Malawians that he understands their problems — and is ready to address them.”
The impending fuel price increase is expected to send shockwaves through the economy, with possible knock-on effects on transport costs, commodity prices, and inflation. However, government insiders argue that the painful short-term impact will pave the way for a more stable and self-reliant economy in the long run.
As Malawians await the Energy Regulatory Authority’s next price review, all eyes are now on how the Mutharika government will cushion vulnerable households — and whether this bold move will mark the beginning of real economic recovery or spark fresh public discontent.
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