Portfolio Committee on Sport Chairman Farai Jere has called on the Minister of Finance to allocate national funding to Cricket ahead of next year’s World Cup, as well as to support Rugby fixtures scheduled for next year.
The new smart traffic system flagged the Minister of Home Affairs for a traffic violation on Tuesday while he was on his way to the airport. Minister Kazembe shared the incident while demonstrating the transparency and accountability of the new system.
Rushinga Member of Parliament Tendai Nyabani has called on the Ministry of Local Government to publicly disclose land ownership details.
The Reserve Bank of Zimbabwe (RBZ) has defended its 70:30 foreign currency retention policy, saying increasing the proportion exporters retain could accelerate dollarisation.
Under the policy, exporters retain 70 percent of their foreign currency earnings, while the remaining 30 percent is surrendered to the RBZ at the interbank exchange rate and paid in Zimbabwe Gold (ZiG).
Exporters have criticised the arrangement, arguing that most of their operational costs are denominated in US dollars, making the surrender requirement an additional financial burden.
Speaking to Members of Parliament at a pre-budget seminar, RBZ Deputy Governor Innocent Matshe said increasing the retention threshold would undermine efforts to promote the use of the local currency.
“If we increase the percentage that will be remaining with the exporter, what will happen is we will increase dollarisation. So basically, it means we are going the opposite direction to where we want to go,” said Matshe.
He added that businesses were currently comfortable with the existing surrender levels, arguing that the policy should remain unchanged.
Industry and Commerce Portfolio Committee Chairperson Clement Chiduwa said an Industry Policy should be introduced this year to address the growing challenge of counterfeit goods.
Agriculture Portfolio Committee Chairperson Felix Maburutse has commended the Ministry of Agriculture for prioritising the completion of ongoing projects before embarking on new ones.
Justice Minister Ziyambi Ziyambi says Verify Engineering must stop relying on government funding and becomefinancially self-sufficient by competing in the open market with private companies such as BOC Gas. He made theremarks at the 2027 National Pre-Budget Seminar in Bulawayo, stressing that the state-owned company should operatecommercially rather than depend on Treasury support.
Minister of Industry Ndlovu Says Cement Manufacturers Are Performing Well Despite the market demands
Bard Santner Group is strengthening its regional investment ambitions following a courtesy visit by its chairman, Mr Vinod Khooshiramsing Bussawah, CEO Senziwani Sikhosana and a delegation of senior executives to Mauritius President H.E. Dharambeer Gokhool.
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Pictures from the day 2 of the Pre-Budget seminar.
Minister of ICT Tatenda Mavetera has urged the Ministry of Finance to reduce taxes on ICT gadgets.
Rushinga MP Tendai Nyabani has questioned why Zimbabwean industries are failing to produce sufficient cement and fertiliser to meet national demand.
By Kudzaishe Chimonera
Varun Beverages chief executive officer Vijay Kumar Bahl says the company underestimated demand in the local market when it began operations in 2018, having initially based its projections on India’s population of 1.4 billion people, a $3.94 trillion economy.
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