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Parliamentary Budget and Finance Committee Chair Ganda disagrees with fuel report, urges ACB to probe NOCMA


Parliament on Thursday, May 27, 2021 adopted a ‘Special Report of the Parliamentary Committee on Natural Resources and Climate Change on the Process of Procuring Fuel by National Oil Company of Malawi (NOCMA) and the Role of Malawi Energy Regulatory Authority (MERA),’ which was presented by the committee’s Chair, Welani Chilenga.
There have been disagreements between the Malawi Energy Regulatory Authority (MERA) and National Oil Company of Malawi (NOCMA) over the award of fuel contracts to two suppliers by NOCMA, with the former claiming procedures had been flouted.
Ganda speaking to members of the press at Parliament on Thursday after the fuel report presentation and adoption ....

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Mera stops Nocma from awarding dodgy fuel contracts: Re-tender bids, restart process | Malawi Nyasa Times


January 23, 2021
Wanga Gwede and Alfred Chauwa - Nyasa Times 9 Comments
State-owned National Oil Company of Malawi (Nocma) recently courted controversy for awarding fuel supply contract to Tanzanian-based Lake Oil Company  and IPG  of Kuwait without proper procedure and its  application to Malawi Energy Regulatory Authority (Mera) to allow it award  contracts to two  fuel suppliers from 23 bidders has been rejected.
NOCMA Deputy CEO Hellen Buluma: Fuel deals snubbed by Mere
Chikadya: Mera board chair
According to the letter that
Nyasa Times has seen signed by Petroleum Bulk Procurement Agency (PBA) executive director, Joyce Gachuma, Government of Republic of Tanzania on March 20, 2020, wrote management of Lake Oil reminding them on their failure to open Letter of Credit for their ordered products. ....

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Kuwait extends gains in volatile session - ARAB TIMES


Humansoft Holding climbs 15 fils, Zain edges down
KUWAIT CITY, Dec 13: Kuwait stocks crept higher on Sunday extending last session’s modest gains. The All Shares Index climbed 12.94 pts to 5,572.84 points in a volatile session helped by some of the mid-caps even as the heavyweights closed narrowly mixed. The Premier Market rose 3.95 pts to 6,101.85 points while Main Market scaled 31.83 pts taking month’s gains to156 pts.
The BK 50 Main index sprinted 28.31 points to 4646.49 pts. The volume turnover meanwhile rebounded following the two-day drop. Over 240 million shares changed hands – a 13 pct rise from the last session. The sectors closed mostly in green turf. Utilities outshone the rest with 3.29 pct gain whereas Oil and Gas slipped 0.27 percent, the worst performer of the day. Volumewise, Financial Services continued to top with 115.2 million shares while Banking sector was ahead in value with over KD 8 million. ....

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