Business

MPC loses K60 million in buses business

Malawi Post Corporation (MPC) has lost over K60 million for halting operations of its transport business in the past four weeks.

MPC removed its buses from the roads following an accident that happened on January 19 at Senzani in Ntcheu involving one of its buses.

The parastatal has since said it will resume the transport services business tomorrow.

A statement released by MPC Wednesday indicates that the firm, after being satisfied of the fitness and state of its vehicles, has decided to resume the business.

The move, however, has delayed as initially the inspection exercise was expected to take only four days.

In an interview yesterday MPC spokesperson, Ida Nkolimbo, said the exercise took longer than expected.

“The implementation of recommendations demanded thoroughness to ensure total safety attainance hence, the delay,” Nkolimbo said.

Last year, MPC obtained a K700 million bank loan using its office complex in Blantyre as collateral to buy seven buses from China.

The corporation launched the bus business in September and was part of MPC’s business plan to expand its revenue base. MPC has been in a loss-making streak for years.

It is currently operating six out of the seven buses that were initially procured.

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