Parliament’s Public Accounts Committee (PAC) is moving to cite Yusuf Investments Limited for contempt after its chairperson, Shiraz Yusuf, abruptly walked out of proceedings when denied a request for a closed-door hearing.
The standoff erupted during a high-stakes inquiry into the controversial sale of the Amaryllis Hotel to the Public Service Pension Trust Fund–a deal that has put millions in pension savings under the spotlight.
PAC Vice-Chairperson Hon. Tulinje Muluzi said the Committee had summoned the company to answer critical questions about the transaction, including how the purchase price evolved and how funds were handled.
“We needed the seller’s account to fully understand what happened in this deal,” said Muluzi. “This is a matter of serious public interest.”
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But Yusuf pushed for an in-camera session, citing security and confidentiality concerns–arguments the Committee flatly rejected.
“Parliament cannot be asked to go into secrecy without compelling justification, especially where public funds are involved,” Muluzi said. “We were not convinced.”
With the Committee insisting on transparency, Yusuf refused to continue testifying–triggering what lawmakers now see as a direct challenge to Parliament’s authority.
“It was at that point that Mr. Yusuf declined to proceed,” Muluzi confirmed.
Now PAC is tightening the screws.
The Committee has resolved that Yusuf’s conduct constitutes contempt of Parliament and is weighing legal action, a move that could set a strong precedent for witnesses who attempt to evade public scrutiny.
Muluzi was blunt about what is at stake: “This is about accountability. It is about protecting the pension savings of ordinary Malawians.”
At its core, the clash exposes a deeper tension–between demands for secrecy and the public’s right to know how their money is being handled. PAC has made its position clear: when public funds are on the line, there will be no closed doors.
