Chinamasa says government will deal with those who refuse bond notes

HON. CHINAMASA:  The Portfolio Committee is a Committee of this august House.  It is out there consulting the people about a Bill.  Let us wait to hear what the people have said. Why are we now afraid to receive the views of the people who by the way, have already started using the bond notes.  Infact, there is a clamour contrary to what the Hon. Members are saying here.  There is a clamour for issuance of bond notes.

It is very important that as Members of Parliament, we should be patient and wait to receive the report of the views of the people.  I thank you.

*HON. MATUKE:  My question is directed to the Minister of Finance.  There is high demand of bond notes in banks.  I have visited some banks and there are not enough bond notes.  What is your Ministry doing in order to increase bond notes because they are on demand?

THE MINISTER OF FINANCE AND ECONOMIC DEVELOPMENT (HON. CHINAMASA):  Mr. Speaker Sir, I want to rise and thank the Zimbabwean public for the overwhelming support that they have given to the bond notes –[HON. MEMBERS:  Hear, hear]-  The point made by the Chief Whip, Hon. Matuke is very correct.  Twelve million bond notes were issued on Monday and this is not meeting the demand but the Reserve Bank has insisted that they will drip supply the bond notes into the market because they do not want to create any situation which is inflationary.  I want to ask the public to be patient.  Their needs will be met in the course of time.

HON. KATSIRU: My question is directed to the Minister of Finance.  That we now have…

THE HON. SPEAKER:  Is that a supplementary? – [AN HON. MEMBER:  Isupplementary gara pasi.  Munonyanyodya mudzepete muchiuya kuParliament. Chibaya gara pasi kani!]-  Order, order, order.

Hon. Member, can you ask a supplementary question.

HON. KATSIRU: My supplementary question is on bond notes.  Bond notes have started getting into various banks and unscrupulous business people have started to change prices in their shops.  Some are not accepting bond notes.  What measures have you put in place to protect the bond notes?

HON. CHINAMASA:  The introduction of bond notes is a new development and we should expect teething problems.  Some of the teething problems which are being reported include those which the Hon. Member has raised which basically have to do with some commercial entities refusing to accept it as legal tender but they are obliged under law to accept it as legal tender.  Anyone who offers bond notes in discharge of obligations will have discharged, whether the person being offered the bond note refuses or not.

The issues that he raised, there is already a hot line to assist the smooth introduction of the bond notes so that any issues of the nature raised by the Hon. Member can be followed up with the relevant culprits and we will be able to deal with those cases where they refuse to accept them. – [HON. MEMBERS:  Inaudible interjections.] –

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