Local currency at appropriate time: VP Chiwenga
GOVERNMENT will reintroduce a Zimbabwean currency at the appropriate time as part of a sustainable economic growth strategy, Vice President Constantino Chiwenga has said.
He was addressing a Zanu-PF rally in Shurugwi yesterday.
VP Chiwenga said Government would need to stabilise the economy first by reopening industries before launching a new currency.
“We are all aware that we are using foreign currency (as a transaction currency) in this country. We do not have our own local currency like other countries,” said VP Chiwenga.
“The cash crisis that we might be facing now is emanating from the multicurrency system because the money is not ours. As Government, one of our main objectives is to reintroduce our own local currency. This, however, will not happen overnight. Government will first stabilise the economy, open factories and manufacturing companies and ensure development,” he said.
VP Chiwenga said Government was working on introducing a new system in the utilisation of money given to community share ownership trusts by mining companies.
He said the money should be used to develop the entire province contrary to the prior arrangement where communities within which the foreign companies operated were the sole beneficiaries.
VP Chiwenga said the money would be managed by Provincial Ministers together with the provincial councils in line with implementation of a devolved State announced by President Mnangagwa in Bulawayo on Saturday.
“The Provincial Councils that we hear are coming after elections will, together with Provincial Ministers, spearhead development in each province. For instance, Midlands will be doing iron and steel beneficiation, Matabeleland South will
concentrate on energy. Every other province will do the same.
“The money which was being ceded into community share ownership trusts will benefit the entire province and used for developmental projects. However, Government will also cede money into every province to initiate development,” he said.
VP Chiwenga vowed criminals behind the Bulawayo bombing at White City Stadium would be punished.
“What happened in Bulawayo was done by fools who have no respect for the sanctity of human life. That was shameful and the perpetrators should be ashamed of their evil doings. Kana dai tangetakafa tese naPresident waitiuraya zvigozodii? Vachengetedzi verunyararo are hunting for them. Justice is waiting for them. They will be hunted until they are brought to book. President Mnangagwa was chosen by God, therefore, nothing will happen to him. Two of the victims died in Bulawayo. We wish a speedy recovery for national chairperson Oppah Muchinguri-Kashiri, VP Kembo Mohadi and every other victim,” he said.
VP Chiwenga called peace during campaigns ahead of harmonised elections set for end of next month.