{"id":35325,"date":"2022-11-20T21:53:48","date_gmt":"2022-11-20T21:53:48","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/suspend-some-imports"},"modified":"2022-11-20T22:37:26","modified_gmt":"2022-11-20T22:37:26","slug":"suspend-some-imports","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/suspend-some-imports","title":{"rendered":"\u2018Suspend some imports\u2019"},"content":{"rendered":"

Africa-Press – Malawi. <\/strong><\/span>An economist from the Malawi University of Business and Applied Sciences (Mubas) has proposed suspension of importation of \u2018luxurious commodities\u2019 for the country to save forex.<\/p>\n

The economist, Betchani Tchereni, said the government, through the Ministry of Industry and Trade, should consider putting restrictions on importation of some commodities, unless they are deemed essential.<\/p>\n

This comes at a time Malawi is grappling to generate enough forex to cater for its annual imports bill, now pegged at $3 billion, against an export capacity of $1 billion. The situation has become more volatile lately, where the country has been unable to import commodities such as fuel and drugs.<\/p>\n

Tchereni believes vehicles, computer games clothing lines, perfumes and cosmetics are among commodities the country can stop to import in the interim, until the situation stabilises. He also suggested that government officials should, in the interim, forego flying first and business classes when travelling.<\/p>\n

\u201cThe government should come out clear and say that they will not be supporting importation of luxurious commodities because, at the rate things are going, even if we are going to devalue again, it will not solve the problem because prices will just rocket,\u201d he said.<\/p>\n

In a separate interview, Financial Market Dealers Association of Malawi President Leslie Fatch said the country should make sacrifices to support the technical measures that can be implemented to help reduce demand for forex.<\/p>\n

\u201cWe need to understand that our appetite for imports affects the currency and we need to change our spending habits, especially on imported goods,\u201d Fatch said.<\/p>\n

Ministry of Industry and Trade spokesperson Mayeso Msokera said while the steps could be ideal in the interim, they are detrimental in the long-run. He added that the approach they would rather take is to encourage high quality local products that should compete with imported goods.<\/p>\n

\u201cWe are promoting the manufacturing of high quality goods that should compete on the market.<\/p>\n

Malawi is a predominantly importing and consuming nation highly dependent on donor aid and exporting raw agricultural produce for foreign exchange mobilisation.<\/p>\n

Since January this year, the country has been facing a scarcity of forex, resulting in struggles to import essential commodities. Justin Mkweu is a fast growing reporter who currently works with Times Group on the business desk. He is however flexible as he also writes about current affairs and national issues.<\/p>\n

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

Africa-Press – Malawi. An economist from the Malawi University of Business and Applied Sciences (Mubas) has proposed suspension of importation of \u2018luxurious commodities\u2019 for the country to save forex. The economist, Betchani Tchereni, said the government, through the Ministry of Industry and Trade, should consider putting restrictions on importation of some commodities, unless they are […]<\/p>\n","protected":false},"author":84,"featured_media":35324,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,410],"tags":[233,371,4936,5268,234],"class_list":["post-35325","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-to-homepage","tag-africa-press","tag-africa-press-malawi","tag-betchani-tchereni","tag-forex-shortage","tag-malawi"],"yoast_head":"\n\u2018Suspend some imports\u2019 - Malawi<\/title>\n<meta name=\"description\" content=\"An economist from the Malawi University of Business and Applied Sciences (Mubas) has proposed suspension of importation ...\" \/>\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\/suspend-some-imports\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u2018Suspend some imports\u2019\" \/>\n<meta property=\"og:description\" content=\"An economist from the Malawi University of Business and Applied Sciences (Mubas) has proposed suspension of importation ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/malawi\/all-news\/suspend-some-imports\" \/>\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=\"2022-11-20T21:53:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-20T22:37:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/11\/postQueueImg_1668968646.25.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1168\" \/>\n\t<meta property=\"og:image:height\" content=\"780\" \/>\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=\"2 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\/suspend-some-imports#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/suspend-some-imports\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"\u2018Suspend some imports\u2019\",\"datePublished\":\"2022-11-20T21:53:48+00:00\",\"dateModified\":\"2022-11-20T22:37:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/suspend-some-imports\"},\"wordCount\":403,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/suspend-some-imports#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/11\/postQueueImg_1668968646.25.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Malawi\",\"Betchani Tchereni\",\"Forex shortage\",\"Malawi\"],\"articleSection\":[\"all news\",\"economy\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/suspend-some-imports#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/suspend-some-imports\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/suspend-some-imports\",\"name\":\"\u2018Suspend some imports\u2019 - 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