Monday, 11 December 2017

GOVT STARTS PAYING UTILITY BILLS

The government has paid $224,5 million to service providers towards bills accrued by line ministries and departments over a long period.

Service providers are owed millions of dollars by the government with treasury resorting to floating treasury bills in the market to raise funds towards paying debts and developmental projects.

Latest treasury statistics seen by the ZBC News on Monday indicate the government has paid $137,6 million to ZESA, $49,4 million to ZINWA, $11,5 million to NetOne and Natpharm has been paid $26 million.

Zimbabwe Institute of Engineers past president Mr Martin Manhuwa says commitment by the government in honouring utility bills is important in increasing value for service providers.

“It is really critical that we focus on the growth systems to sustain the economy,” he said.
Presenting the 2018 national budget last week the Minister of Finance Cde Patrick Chinamasa said huge spending has posed a burden to the fiscus in servicing local debts.

“Fiscal indiscipline is too high and we therefore anticipate free funds,” said Cde Chinamasa.
The government has floated treasury bills worth more than US$60 million.

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