Zimbabwe urged to name and shame companies abusing the foreign currency facility as fines do not work

Zimbabwe urged to name and shame companies abusing the foreign currency facility as fines do not work

Zimbabwe has been urged to name and shame companies that are abusing the foreign currency auction facility especially by refusing to accept the local currency because fining them does not work as they simply pay the fines.

Harare North legislator Normal Markham said the government should instead consider sending them to jail.

He was contributing during question time when Rushinga legislator Tendai Nyabani asked what the government was doing about companies that obtained foreign currency at concessionary rates from the auction but refused to sell their goods in local currency.

Deputy Finance Minister Clemence Chiduwa said 163 companies had been fined for doing so.

“Fines do not work with people who have got a lot of money because they just pay.  Jail sentences should be considered,” Markham said.

“However, what I cannot understand Hon. Minister is, we had a recent case where 100 computers were stolen and names were publicised, there was judgement and jail sentence yet with these guys who are stealing money from this country, they are not named.  We do not know who they are?

“The Ministry intends to blacklist them.  Why are they not publicised?  Finally, if this continues, it will get bigger because I just pay and I go back.  Mr. Speaker Sir, it is very clear that if I get caught today, tomorrow I will go back to the auction floor because I have got more than one bank account.  If the Hon. Minister is serious, publish the names.”

Q &A

HON. NYABANI: Thank you very much Mr. Speaker Sir, my question goes to the Minister of Industry and Trade.  We have wholesales like National Foods, Gains and others, we have noted that these companies are receiving money from the RBZ so that they assist people but I have noted that they are not taking RTGs and local currency but they only want US dollars.  What steps are you going to take so that such companies can assist retailers and Zimbabweans?  We have noted that people have to go to the black market to procure US dollars so that they go and buy from these wholesalers. Thank you – [HON. MEMBERS: Hear, hear.]

THE HON. SPEAKER:  Is the Minister here, I cannot see her.  Leader of Government Business – [THE MINISTER OF JUSTICE, LEGAL AND PARLIAMENTARY AFFAIRS: The Deputy Minister of Finance is here.] – Hon. Leader of Government Business, you address yourself to the Chair and advise accordingly – [HON. MEMBERS: Inaudible interjections.] – Order, order, do not disturb the process, I am consulting the Leader of Government Business.  I now recognise the Hon. Deputy Minister of Finance.

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