Chief sec­re­tary slams cor­rup­tion Preva­lence of graft in Govt stands in the way of for­eign in­vest­ment

Chronicle (Zimbabwe) - - National News - Ray Bande in Nyanga

THE preva­lence of cor­rup­tion in Gov­ern­ment stands in the way of for­eign di­rect in­vest­ment (FDI) and sti­fles eco­nomic turnaround pro­grammes such as ZimAs­set, Chief Sec­re­tary to the Pres­i­dent and Cab­i­net Dr Misheck Sibanda has said.

De­liv­er­ing his keynote ad­dress at the heads of Gov­ern­ment min­istries work­shop in Nyanga yes­ter­day, the Chief Sec­re­tary to the Pres­i­dent and Cab­i­net Dr Misheck Sibanda said there was a need for ze­ro­tol­er­ance on cor­rup­tion if the coun­try was to at­tract in­ves­ti­ment.

He said Gov­ern­ment was ac­cel­er­at­ing the widen­ing of the for­eign cur­rency bas­ket to avoid de­pen­dency on the US dol­lar by pro­mot­ing the use of the South African rand, the Bri­tish pound, the Chi­nese yuan as well as the bond notes which would be used not only as an ex­port incentive, but also for daily trans­ac­tions.

Dr Sibanda said the pre­vail­ing cash short­ages have had an ad­verse ef­fect on the im­ple­men­ta­tion of the eco­nomic blue­print pro­gramme Zim-As­set, hence the need to pro­mote use of more cur­ren­cies in the for­eign cur­rency bas­ket.

“There is widen­ing use of the bas­ket of for­eign cur­rency in order to avoid de­pen­dence on one cur­rency — the US dol­lar.

The Bri­tish pound, the rand, the Chi­nese yuan are also go­ing to be utilised while the bond notes will not only be an ex­port incentive, but also will be used in daily trans­ac­tions.

“We need to adopt zero tol­er­ance on cor­rup­tion. There is no way we can get FDI for as long as we do not ad­dress vices such as cor­rup­tion,” he said.

Dr Sibanda said the use of the US dol­lar had proved un­sus­tain­able as it at­tracted for­tune seek­ers who would stop at noth­ing to siphon ev­ery dol­lar on the mar­ket.

He high­lighted the achieve­ments and chal­lenges Gov­ern­ment has faced since the start for the im­ple­men­ta­tion of the Zim-As­set pol­icy.

“In the Food and Nu­tri­tion clus­ter of Zim-Ass­set, there has been low pro­duc­tion or pro­duc­tiv­ity in the A1 and A2 farms owing to high costs of inputs and ef­fects of cli­mate change as well as limited fund­ing of agri­cul­tural sec­tor.

“Pro­duc­tion of the bank­able 99 year lease agree­ments through the col­lab­o­ra­tory input of Gov­ern­ment and lo­cal bank­ing sec­tor which will fa­cil­i­tate on farm in­vest­ment and en­hance se­cu­rity of ten­ure.

“The re­vival of key agri­cul­tural in­sti­tu­tions namely Arda, Cot­ton Com­pany of Zim­babwe, Cold Stor­age Com­mis­sion, which in some cases these ini­tia­tive are al­ready bear­ing fruit,” he said.

Lo­cal au­thor­ity of­fi­cials, among them Umguza Ru­ral Dis­trict Coun­cil Chief Ex­ec­u­tive Of­fi­cer, Mr Collen Moyo, (right) fol­low pro­ceed­ings dur­ing a 2016 Lo­cal Gov­ern­ment Bud­get Sem­i­nar at a Bu­l­awayo ho­tel yes­ter­day

VP Em­mer­son Mnan­gagwa

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