Government To Audit Parastatals For Reforms

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Image Credit: Sky Link

Minister of Finance and Economic Planning, Patrick Chinamasa said that an audit is going report is going to be made and submitted to the government before reforms are done.

Chinamasa who was speaking on the economic future of Zimbabwe said that the changes in the public enterprises are to be in place by the end of this year.

“We will not hesitate to close down parastatals that are not strategic. We are first doing an audit report and present to the government,” Chinamasa said.

The Zimbabwean government is being forced to act as parastatals made a cumulative loss of $270 million in 2016 alone due to weak cooperate governance and a deep-seated rot in public enterprises according to the Office of the President and Cabinet.

Although the Finance Minister agrees that the government is going to implement reforms, Chinamasa said that information circulating on social media on enterprises is wrong.

The minister advised citizens not to rely on social media for information which has been blamed for “fake news” meant to cause “despondency among the peace-loving Zimbabweans”

Documents alleged to be from the government have been circulating on the social media giving a list of parastatals to be privatized.

Companies to be privates according to the circulating list include Air Zimbabwe, Forestry Company of Zimbabwe, National Oil Company of Zimbabwe (NOCZIM), National Railways of Zimbabwe (NRZ), Cold Storage Company (CSC), Zimbabwe Electricity Supply Authority (ZESA) Postal and Telecommunications Corporation (PTC) and Chitungwiza Garment Factory.

Last year the government had decided to close down loss-making parastatals, a move that is likely to increase the unemployment rate in Zimbabwe. The country’s parastatals, which are already on debts have problems as workers go for months without getting dues

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