The National Oil Company of Malawi (NOCMA) and the Petroleum Importers Limited (PIL) are owing fuel importers funds amounting to $78.3 million for volumes of fuel.

Nocma has a sum in debt of $61.5 million for suppliers whereas PIL has $16.8 million.

This follows the appearance of Nocma and PIL before the Parliamentary Committee on Natural Resources and Climate Change today on January 10, 2023 in Lilongwe.

Secretary for the Ministry of Energy, Alfonso Chikuni, confirmed the development saying the two are truly having debts.

Chikuni added said the institutions have the money and can afford to pay back to the suppliers.

He however said, the available money the two have is in Malawi Kwacha so it is hard to pay back to suppliers using local currency.