The People’s Transformation Party, (Petra) President Kamuzu Chibambo has withdrawn from contesting in the presidential polls as he could not present his nomination papers on Wednesday afternoon amid speculation that he failed to raise K1 million .

Chibambo was expected to file his nomination papers to Malawi electroral Commission (MEC) officials on the third day of the exercise.

According to MEC officials announcement, besides Chibambo also two independent Presidential Candidates, Damiano Ganizani and Sangwani Soko  will not present nomination papers, effectively ruling them out of the presidential race.