ADMARC IN THE RED; NO ENOUGH CASH TO PURCHASE MAIZE

By Wilson Allan Phiri

Contrary to public expectations, it has emerged that the state produce trader ADMARC does not have enough cash to purchase maize from farmers.

This has been revealed when officials from ADMARC and Ministry of Finance appeared before the Agriculture, Irrigation and Natural Resources and Climate Change cluster.

According to ADMARC Acting Chief Executive Officer Dhlelisile Matondo Phiri, currently the parastatal has K 7.2 Billion which is not enough to purchase 410,000 metric tones of maize.

According to Matondo Phiri, ADMARC needs K80 Billion to help address problems that are heavily affecting its operations.

 In his remarks, Co-Chairperson for the cluster Werani Chilenga blamed the Ministry of Finance for failing to guarantee a loan for ADMARC for it to purchase maize.

"ADMARC needs an immediate bailout." said Chilenga

In this regard, the cluster has asked ADMARC and the responsible Ministry to bring concrete answers on Friday to the committee.