{"id":29936,"date":"2022-08-25T20:08:23","date_gmt":"2022-08-25T20:08:23","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/pppc-engages-attorney-general-on-former-staff-15-shareholding-in-defunct-shire-bus-lines"},"modified":"2022-08-25T21:00:29","modified_gmt":"2022-08-25T21:00:29","slug":"pppc-engages-attorney-general-on-former-staff-15-shareholding-in-defunct-shire-bus-lines","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/pppc-engages-attorney-general-on-former-staff-15-shareholding-in-defunct-shire-bus-lines","title":{"rendered":"PPPC engages Attorney General on former staff 15% shareholding in defunct Shire Bus Lines"},"content":{"rendered":"

Africa-Press – Malawi. <\/strong><\/span>Public Private Partnership Commission has engaged the Attorney General seeking guidance on how the 15% shareholding which former staff hold in defunct Shire Bus Lines matter should be handled.<\/p>\n

This is after the Commission has attested that the report on the liquidation of the company in 2007 \u201cdoes confirm that the staff had a 15% shareholding in the company\u201d.<\/p>\n

The former Shire Bus Lines staff have all along contended that when the company was liquidated and acquired by National Bus Company, they had a 15% shareholding whose proceeds they haven\u2019t received 15 years down the line.<\/p>\n

As the legal battle rages on that involves the Attorney General, the former staff sought legal redress through the Public Private Partnership Commission where they raised concern in the manner in which the existing assets of Shire Bus Lines Limited, including bus depots and houses, were taken over by National Bus Company and yet they, as shareholders of the defunct company, have not received any proceeds from this transaction.<\/p>\n

In his letter to the Attorney General, dated June 22, 2022, the Commission\u2019s Chief Executive Officer, Patrick Kabambe said: \u201cIt is their claim that National Bank Company is making a lot of money from the purported ownership of these bus depots and they feel they have a right to be receiving a proportionate share of these revenues.<\/p>\n

\u201cI am aware that you are already dealing with the matter in which National Bus Company acquired assets of Shire Bus Lines. Nevertheless, I am compelled to bring the complaint raised by the ex-staff and to seek your guidance on how my office should handle the matter.\u201d<\/p>\n

Thus Kabambe attests that \u201cthe report does confirm that the staff had a 15% shareholding in the company and it is [the Commission\u2019s] view that they do have a right to raise a concern on this matter\u201d.<\/p>\n

Last February, the former employees reignited their campaign to press government to get their terminal benefits years after the company was liquidated. A report by Nation newspaper in February quoted the ex-staff as complaining of the discrepancies their final terminal benefits were calculated.<\/p>\n

They had said they were suffering greatly and over 20 of their colleagues had \u201cdied as paupers because they could not get proper medication when they fell sick due to poverty\u201d.<\/p>\n

They were quoted as saying: \u201cWhen we were being retrenched, we were told that we could be given enough money as severance pay and on top of that, transport money to enable us to hire cars to take us back to our respective homes.<\/p>\n

\u201cTo our surprise, we only got K20,000 as transport allowance and that money was not enough to hire a vehicle within Lilongwe,\u201d they said while general secretary for Transport and General Workers Union Ronald Mbewe told the Nation newspaper that they took the matter to court after noting the discrepancies.<\/p>\n

\u201cWhen we saw the discrepancies in the benefits, we decided to take the case to court,\u201d he was quoted as saying.<\/p>\n

In 2006, government instructed Public Private Partnership Commission (PPPC), then Privatisation Commission, to liquidate all MDC interests before liquidating its assets due to poor performance.<\/p>\n

Shire Bus Lines was also liquidated in 2007 after inviting private sector players to partner it with then Malawi National Bus Company. Mulli Brothers then bought the company and reconstituted it to National Bus Company in which it manages all bus depots owned by Shire Bus Lines that are across the country.<\/p>\n

Every bus by other operators pay a user-fee and those proceeds allegedly go direct to National Bus Company \u2014 thus the ex-staff demanding to be compensated since their 15% shareholding is in such assets.<\/p>\n

Meanwhile, owner of National Bus Company, Leston Mulli, who was arrested alongside former Secretary to President and Cabinet, Lloyd Muhara on Monday \u2014 on allegations that they swindled the Reserve Bank of Malawi of K30 billion \u2014 were granted bail by Lilongwe Chief Resident Magistrate Madalitso Chimwaza.<\/p>\n

They paid a K500,000 cash bond, one surety bonded at K10 million and are to appear at Area 30 Police Headquarters once every fortnight and not to interference with state witnesses. Muhara and Mulli have been charged with two counts namely \u2014 \u2018conspiracy to defraud and abuse of office\u2019.<\/p>\n

For More News And Analysis About Malawi<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Malawi. Public Private Partnership Commission has engaged the Attorney General seeking guidance on how the 15% shareholding which former staff hold in defunct Shire Bus Lines matter should be handled. This is after the Commission has attested that the report on the liquidation of the company in 2007 \u201cdoes confirm that the staff […]<\/p>\n","protected":false},"author":84,"featured_media":29935,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[233,371,234],"class_list":["post-29936","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-malawi","tag-malawi"],"yoast_head":"\nPPPC engages Attorney General on former staff 15% shareholding in defunct Shire Bus Lines - Malawi<\/title>\n<meta name=\"description\" content=\"Public Private Partnership Commission has engaged the Attorney General seeking guidance on how the 15% shareholding whic ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/malawi\/all-news\/pppc-engages-attorney-general-on-former-staff-15-shareholding-in-defunct-shire-bus-lines\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PPPC engages Attorney General on former staff 15% shareholding in defunct Shire Bus Lines\" \/>\n<meta property=\"og:description\" content=\"Public Private Partnership Commission has engaged the Attorney General seeking guidance on how the 15% shareholding whic ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/malawi\/all-news\/pppc-engages-attorney-general-on-former-staff-15-shareholding-in-defunct-shire-bus-lines\" \/>\n<meta property=\"og:site_name\" content=\"Malawi\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-25T20:08:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-08-25T21:00:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/08\/postQueueImg_21-6307e2d5b7873.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"820\" \/>\n\t<meta property=\"og:image:height\" content=\"365\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/pppc-engages-attorney-general-on-former-staff-15-shareholding-in-defunct-shire-bus-lines#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/pppc-engages-attorney-general-on-former-staff-15-shareholding-in-defunct-shire-bus-lines\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"PPPC engages Attorney General on former staff 15% shareholding in defunct Shire Bus Lines\",\"datePublished\":\"2022-08-25T20:08:23+00:00\",\"dateModified\":\"2022-08-25T21:00:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/pppc-engages-attorney-general-on-former-staff-15-shareholding-in-defunct-shire-bus-lines\"},\"wordCount\":713,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/pppc-engages-attorney-general-on-former-staff-15-shareholding-in-defunct-shire-bus-lines#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/08\/postQueueImg_21-6307e2d5b7873.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Malawi\",\"Malawi\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/pppc-engages-attorney-general-on-former-staff-15-shareholding-in-defunct-shire-bus-lines#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/pppc-engages-attorney-general-on-former-staff-15-shareholding-in-defunct-shire-bus-lines\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/pppc-engages-attorney-general-on-former-staff-15-shareholding-in-defunct-shire-bus-lines\",\"name\":\"PPPC engages Attorney General on former staff 15% shareholding in defunct Shire Bus Lines - 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