Vice President Dr. Saulos Chilima, who is also Minister responsible for Public Sector Reforms, says government will not bail out Electricity Supply Corporation of Malawi (Escom) from its MK53 billion unpaid electricity generation bills it owes Electricity Generation Company (Egenco).
Press Officer in the office of the Vice President, Pilirani Phiri said following an agreement between Escom and Egenco, Escom will pay MK11.7 billion out of the MK53 billion which it owes Egenco by December 31 2020.
Phiri said that 60 percent of the balance equivalent to MK25.2 billion will be paid by December 31 2021 while Ministry of Finance will facilitate that Egenco issues a Credit Note for the remaining 40 percent balance.
