THE government is working on a raft of measures to address the cash crisis and restore market confidence, with the introduction of cash withdrawal limits and the increased use of plastic money among the cocktail of measures, the Zanu-PF Politburo heard yesterday.
These measures are expected to catalyse the implementation of the economic blueprint, Zim-Asset which seeks to transform the country’s economic fortunes by 2018.
It is hoped that once the measures are implemented, the cash crisis will soon be under control.
Addressing journalists after the Zanu-PF Politburo meeting in Harare yesterday, the party’s secretary for information and publicity, Cde Simon Khaya Moyo, said the measures were aimed at restoring market confidence.
He said Finance and Economic Development Minister Patrick Chinamasa, who is also the party’s secretary for legal affairs, had given a comprehensive report on measures being implemented by the government to address the issue of cash shortages.
Cde Khaya Moyo said Cde Chinamasa also briefed the Politburo on progress made on re-engagement efforts with the multi-lateral lending institutions.
“The secretary for legal affairs, Cde Patrick Chinamasa, in his capacity as the Minister of Finance and Economic Development, updated the Politburo on the implementation of Zim-Asset with emphasis on measures to address the cash crisis,” said Cde Khaya Moyo.
“These include use of plastic money, charges and fees on the of point of sale machines, Real Time Gross Settlement and mobile banking platforms, cash withdrawal limits, export bonus scheme and enhanced interbank market foreign exchange management.
“He (Cde Chinamasa) gave a very clear detail on this but I’m sure you will be hearing more from the Reserve Bank of Zimbabwe on these matters. He has already addressed them but certainly the situation will soon be under control.
Cde Khaya Moyo said the Politburo received a report from the party’s national commissar Cde Saviour Kasukuwere on the state of the party.
He said Cde Kasukuwere reported that the party was stable in almost all provinces and provincial structures remained the same, adding that the reported changes of provincial structures in Masvingo province were null and void.
“The national commissar Cde Savior Kasukuwere gave a comprehensive report on the status of the party provinces throughout the country,” said Cde Khaya Moyo.
“Generally, the party is stable in all provinces and structures of the party remain as they have been. In other words no province can effect changes among structures without following laid down party guidelines including Masvingo province. The national commissar noted that the recent changes announced in Masvingo province are null and void.
“He further went to inform the Politburo that His Excellency and the First Secretary of the party had a very successful meeting with party provincial chairpersons recently.”
Cde Khaya Moyo said the party’s deputy secretary for Youth League Cde Kudzanai Chipanga and secretary for external affairs Cde Simbarashe Mumbengegwi gave reports on the recently held Million Man March and the President Mugabe’s attendance at the African Caribbean Summit in Papua New Guinea respectively.
“Deputy secretary of the Youth League Cde Kudzai Chipanga gave a detailed brief on the recently and successfully held One Million Man March which took place on the May 25, 2016. It was on Africa Day here in Harare,” he said.
“The historic march was attended by hundreds of thousands of people demonstrating the massive support Zanu-PF has throughout the country. The Youth League leadership itself shall be visiting all administrative districts countrywide expressing naturally, gratitude for the amount of work our leadership provinces did for the success of the march.
“The leadership of the Youth League in this exercise shall be accompanied by various ministers who will be explaining to the youths how their ministries can assist young people to engage in various employment activities and what projects youths can embark on.
“The event showed the international community and local opposition political parties that Zanu-PF is the game in town.
“The secretary for external affairs Cde Simbarashe Mumbengegwi gave a brief on the recent attendance by His Excellency the President to the African Caribbean Pacific Summit held in Papua New Guinea. The report was well received and the President was congratulated on the role he played in this summit.”