By Chisomo Phiri
Newly appointed Finance and Economic Planning Minister Simplex Chithyola Banda has challenged the Malawi Revenue Authority (MRA) to triple its K1.5 trillion revenue collection target.
Chithyola said this after visiting the MRA headquarters in Blantyre on Tuesday, where he outlined a new strategy to revamp the country’s economy and fiscal discipline through government expenditure controls.
The Minister said he is upbeat that no matter what, the Malawi Revenue Authority can surpass its current revenue targets.
Chithyola-Banda said he was optimistic that MRA has personnel who have the acumen to deliver to his expectations.
“MRA can triple its current revenue collection,” Chithyola-Banda said.
The minister then said he was geared to serve in the current position as Minister of Finance and that he had employed a ‘Four F Strategy’ namely; Forex, Fuel, Food and Fertilizer which are four critical challenges the Malawi economy is currently facing.
On his part, MRA Commissioner General John Bizwick said the strategy could be realistic with a tax-compliant society, a favorable economic environment, efficient implementation of reforms, and integrated tax collection systems like Msonkho Online.
On October 7, 2023, President Dr. Lazarus Chakwera appointed Banda to become the Minister of Finance replacing Sosten Gwengwe who is now the Minister of Trade and Industry.