Chinamasa says government will deal with those who refuse bond notes

HON. CHINAMASA:  Yes, I am coming to that.  I am coming to that.  Either you want an answer or an explanation or you do not, but I have to give the background first – [HON. MEMBERS: Inaudible interjections.]- 

HON. CHIBAYA:  We know the background.

HON. CHINAMASA:  You do not know.  You do not know the background.

HON. CHIBAYA:  We know.

HON. CHINAMASA:  You are not the Minister of Finance and you do not know the background – [HON. MEMBERS:  Inaudible interjections.]-

THE HON. SPEAKER:  Order, order!  Hon. Chibaya, you clarified the question.  Can you allow the Hon. Minister of Finance and Economic Development to answer?  If you are not satisfied, then you raise a supplementary.

HON. CHINAMASA:  Thank you Mr. Speaker Sir.  I was saying I am standing in to complement what the Hon. Vice President Mnangagwa and Leader of the House has already explained.  I am now adding to what he has already said.

The legal framework under which bond notes have been issued – let me explain; under existing legislation, the law is there.  The law to introduce bond notes is there and this is for the lawyers to argue amongst themselves, but in order to reinforce that legal framework we came up with, it is the Presidential Powers.  In other words, if anyone wants to challenge the validity of the bond notes, we are standing on two grounds – the existing legislation and also the Presidential Powers regulations, but the Presidential Powers regulations last six months and in the mean time we must come with a permanent legislation which is the Reserve Bank Amendment Bill.

We can do the Reserve Bank Amendment Bill almost on the last month of the period of six months.  What we did is we went through, we did a Presidential Powers.  The point I want to make Hon. Pastor and Advocate is this…

THE HON. SPEAKER:  Please address the Chair – [AN HON. MEMBER:  Address the Chair.  Leave the man of God alone.] –

HON. CHINAMASA:  Under the existing law, the legislation to introduce bond notes is already there, but out of abundant caution, we decided that we reinforce that regime with the Reserve Bank Amendment Bill.

HON. MARIDADI:  On a point of order Mr. Speaker Sir.  The Minister must listen.  The Minister did not answer the question.  The question is clear.  There is a scarcity of resources in this country.  We are sending out a Committee of Parliament to go around the country to get people’s views on an issue that the Minister has an answer on already.  The Minister has not answered that.

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