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Controlling Officers (COs) in ministries, department, agencies and state-owned enterprises (SOEs) risk hefty fines and custodial sentences if found guilty of mismanaging public funds. This is according to provisions in the new Public Finance Management Act which came into force on April 1, 2022 after Parliament passed the relevant amendment bill. The Act provides that …
The post Tough penalties for public funds wastage appeared first on The Times Group Malawi.
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