Why are Zimbabweans with free funds looking for Zimdollars when they need US dollars to import, Minister asks?

HON. SARUWAKA:  My question is a follow up coming as a result of the response where he said one of the policies they are going to employ to arrest the abuse of forex is to name and shame the perpetrators.  Why would they want to name and shame instead of name and arrest?

HON. NDEBELE: Numbers or figures do not lie.  The Minister said that he is at a vantage point where he is able to pick accounts that are possibly involved in aiding the black market.  I would like to check what it is that is stopping him from arresting the people that run those accounts.  Is it because they are politically exposed persons who happen to be on the right side of Government?

From his entire speech, I picked that it would be difficult to totally exterminate the black-market.  I represent the ordinary man in Magwegwe and the difficulties arise from dual pricing that is arising from exchange rate differences between the black market rate and the auction rate.  What is the Minister doing effectively to protect the ordinary consumer from the hazards brought about by these differences?

When the gentleman at Treasury starts shoving down Statutory Instruments using Presidential decrees, we get worried as parliamentarians because all the time, if you check our history when the Presidential Temporary Powers Act is used as a vehicle to bring in laws, these laws always bring difficulties to our citizens.  If I take you back to the Robert Mugabe era, we stood in this House and told them that the bond note will not stand the test of time in terms of being equated to the USD at the rate of 1:1 and that came to pass.  When you see them doing this, very soon they shall come round to raid our nostro accounts.  About 24 months ago, they almost killed us because even for SMEs, they were going to take away our USDs.  I am appealing to the Minister to assure this House as well as the nation that our nostro accounts remain safe – they will not be raiding our accounts once again.

*HON. NYABANI:  Thank you Madam Speaker.  I just want to add a few words to the Statement by the Minister.  I came across the beneficiaries of the USD auction money.  I heard you saying you are giving money to the people who are in the production sector.  I deal with the companies which are noticed on that auction because I am a retailer.  These are the likes of Jarani and OK.  If we put more theories on the economy, it does not work properly.  For the country to move forward and develop economically, let us give the foreign currency to the milling companies, manufacturers of detergents. What are the companies like OK we are giving money to manufacturing?  The OK, TM and Jarani are the ones benefiting at the expense of the producers.  Hon. Minister, this has affected the rural people and has great impact.  Maybe it does not have great impact in Harare where you stay but in the rural areas, it has negatively impacted on people.  The rate of 84 only applies on the book but the rates on the ground in rural areas are at 160, 170.  May you prioritise production companies when allocating money at the auction so that we can have commodities at affordable prices.  Products are not going to be cheap by giving forex to retailers like OK and TM who are going to buy their products from South Africa.  If you want the USD and the Zimbabwean dollar to be at 1:1 rate, give the money to the manufacturing companies.  I thank you.

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