Maravi

Govt has no intention of repossessing ESCO - Mangani

Govt has no intention of repossessing ESCO - Mangani
By Bright Mukwasa
Thu 10 Mar. 2011, 03:59 CAT

THE government has no intention of repossessing Engineering Services Corporation properties, according to Lameck Mangani.

Mangani, who is works and supply deputy minister, said the government had sold properties belonging to the defunct Engineering Services Corporation (ESCO) because they were difficult to manage.

“These properties were sold purely because we could not maintain them, and repossessing them or nationalising them may not have been in the best interest of the government,” he said in an interview.

Mangani said the government had realised about K16 billion from the sale of the ESCO properties. However, he said the properties had suffered badly from vandalism.

Mangani said that out of the 52 properties sold, the government had so far issued 15 title deeds and was processing the rest.

He advised owners of the properties to partner with other businesses to realise the full benefits of their assets.

“They can use those titles to get loans and go into partnership with others to boost their businesses. Like what's happening at the Levy Junction, that's what we want our people to be doing,” he said.

Mangani, who is also MP for Chipata Central, said the government would be able to advise on the way forward for other inactive state properties after an inventory was carried out.

Labels: LAMECK MANGANI, NATIONALISATION

posted by MrK @ 1:46 PM