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

THE HON. SPEAKER:  Order, order! Hon. Member, you are now debating.  I thought you asked a very good question when you started and I am sure that the Hon. Minister captured that question.

 HON. CHINYANGANYA:  Thank you Mr. Speaker Sir.

HON. NDUNA:  Thank you Mr. Speaker Sir, I have two points of clarity.  The first one is …

THE HON. SPEAKER:  Two points of clarity? – [HON. NDUNA:  Questions Mr. Speaker Sir.] – Clarification. – [HON. NDUNA:  Points of clarification.] – Points for clarification yes.

HON. NDUNA:  Thank you for that clarity in terms of clarification Mr. Speaker Sir.  I have got two Mr. Speaker Sir …

THE HON. SPEAKER:  I will indulge you but you are expected to ask one question.

HON. NDUNA:  Thank you Mr. Speaker Sir.  The first one is, what is going to happen to the abusers of the foreign currency that they would have received from the auction system?  The second question is, is it possible for you Hon. Minister to publish the names of those people/businesses that would have accessed the monies from the RBZ auction system so that we can know which garages to go and buy that fuel at the auction rate in RTGS form, those are the two issues that I would want you to ventilate on.  I thank you.

HON. MUSHORIWA:  Thank you Mr. Speaker Sir.  My question to the Hon. Minister is that Hon. Minister, if you read through S.I. 127 especially Clause 5 (7), it says that any person or corporate that charges a rate that is higher than the official rate, which I assume to be the auction rate, will be guilty of an offence.

Hon. Minister, given the fact that the auction has only disbursed, I think, around $1.8 billion and yet the amounts of money that have been in circulation during the course of the auction system is around $4 billion; what it implies is that a number of people are not accessing the auction.  My question is, why would Government want to punish other people who are getting forex from their free funds and other sources and treat them as if they are the same as those who are accessing forex on the auction market, would that be fair?

Tied up to that Hon. Speaker is the question of consultation.  Did Government carryout sufficient consultation amongst the stakeholders in the industry and small scale because our economy is highly informalised?  I thank you.

HON. T. MOYO:  Thank you Mr. Speaker Sir for recognising me.  I seek clarification from the Hon. Minister pertaining S.I. 127.  Mr. Speaker Sir, what is the Ministry doing in terms of enforcement?  The corporates and individuals should be able to comply with the Statutory Instrument.  What measures are being taken by the Financial Intelligence Unit and the police unit to enforce this Statutory Instrument?  How many people who have increased prices dramatically have been arrested?  We want to know from the Minister the number of people and how much has been paid.

Continued next page

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This post was last modified on June 4, 2021 3:27 pm

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Charles Rukuni

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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