Leader of Opposition in Parliament Kondwani Nankhumwa has lamented government’s continued failure to cushion Malawians from the rising cost of living.

Nankhumwa, who spoke in Parliament on Tuesday, said the recent price hike of fuel, water and cooking oil is a serious indication that the country’s economy has lost track.

Nankhumwa added that most Malawians are suffering and authorities need to wake up and address the issues affecting people through a short term solution.

“Do we have a situation whereby most Malawians have got disposable income today so that they can invest in the importation or production of cooking oil business in the country?

“That’s the long-term solution we are talking about, but we are saying yes some companies can come in but how much does it take for a company to be established in the country, how long does it take?,” Nankhumwa wondered.

But responding to Nankhumwa’s sentiments, Minister of Trade Sosten Gwengwe attributed the rise in cost of living to the pandemic and has since expressed optimism that soon the economy will carry on in accordance with the global trend.

“Since Covid-19 pandemic, there have been some disturbances in terms of the disruption in value chains in terms of supply of either of raw materials or finished products.

“As an economy we are going through the readjustment processes, they were things that had completely gone wrong with the previous regimes and we have sat down as a government and we are trying to adjust and most of those strategies are now bearing fruit and we are very hopeful that very soon we should be able to stand solidly on the fit as an economy,” said Gwengwe.

Recently, oil manufactures and processors in the country asked government to remove Value Added Tax (VAT) on cooking oil if prospects of reducing the prices are to be realised.