via Govt fiddles as economy burns – NewsDay Zimbabwe October 15, 2014
RECENT statistics from the Confederation of Zimbabwe Industries (CZI) and the Zimbabwe Congress of Trade Unions (ZCTU) paint a gloomy picture about the Zimbabwean economy.
In its latest report, CZI said capacity utilisation in the manufacturing sector has declined to 36,3% from 39,6% as the sector takes a battering from the politically-induced economic decline.
CZI said the Purchasing Managers Index (PMI) stood at 43,5%. PMI is a diffusion index that looks at new orders, inventory levels, production, supplier deliveries and employment conditions.
PMI above 50% means the manufacturing sector is growing and expanding. A PMI under 50% means the manufacturing sector is contracting.
ZCTU was quoted this week saying that a total of 4 172 people lost jobs for the first nine months of this year.
Last year, 9 617 jobs were lost while 75 companies closed.
These statistics are in contrast to what the ruling Zanu PF party promised people ahead of last year’s harmonised elections. Zanu PF promised to create jobs and revive companies. But the opposite is true.
The job losses would result in increased social vices — drug abuse, prostitution and escalation of crime.
Yet, these latest statistics should have jolted government into action. Regrettably, government is on holiday as Cabinet ministers fight for survival ahead of the explosive Zanu PF elective congress.
The issue of the economy has been relegated to the backburner as government ministers burn midnight oil to ensure that their faction prevails at the watershed December congress.
What is sad is that the economy had been contracting over the past two years. The over 4 000 will add on to the unemployment figures.
Those that have tried to eke out a living through vending have to play cat-and-mouse games with authorities who want to get something from the already burdened populace.
Zimbabweans are hard pressed, but the predatory government is demanding its pound of flesh through a raft of tax measures targeted at the poor.
Sadly, the main opposition MDC-T party which is supposed to keep the government in check is still to recover after its dismal performance at last year’s harmonised elections.
President Robert Mugabe’s Zanu PF knows what should be done, but has its own priorities elsewhere.
Zimbabwe needs to create a conducive environment to attract foreign direct investment required to reboot the economy. Investors have so many options to choose from.
But for that to happen, Zanu PF needs to put its house in order.
No sane investor will pour their money into an economy where a junior can attack a senior government official unless they are fly-by-night financiers who thrive in a lawless environment and are keen to clean their dirty loot.
There is no doubt that the challenges facing the country are not insurmountable. They can be tackled if there is will and if the ruling party politicians are not working at cross-purpose. It’s only that the ruling Zanu PF has its priorities elsewhere.
COMMENTS
Zanu PF has no clue as to what needs to be done. Not at all. The economy has been shrinking since December 1997. What has been varying is the rate of shrinking only. With Zanu PF still dominating the political space Zimbabwe is doomed.
Gwanyamwanya We Mahobo All due respect to you Zanu pf knows exactly what needs to be done, but unfortunately they wont do it. What needs to be done is that they need to hold free and fair elections under supervision of the United nations. If the people want them what is there to fear of having the UN supervise and some observers from all interested countries looking on. Even if the USA and The European Union had lifted the restrictions on Mugabes travel they still would have found some other way to stop them from observing. When one starts a career of thieving it is hard to reform. Zanu has stolen so many elections that they have a compulsion to repeatedly steal even in their own internal elections. It has become a way of life for them. Once you join Zanu the first lessons you learn is how to rig.
Doomed ,it died long back ,going to be a terrible few years ahead.Like living in hell!
The total collapse thanks to stupid zpf- has now reached the point of no return. The final countdown. Jail to the culprits known
Make sure you have a vegetable garden and some chickens….for the hunger shall continue for as long as there is ZANU…..in the dining room of Zimbabwe only one small table is bedecked, heaped with food – theirs. (All of it imported)
Its high time people of Zimbabwe demand freedom, politically, economicaly and socialy. The only way is to prove to ZANU from a military standing point. The ballot box has faile, people that have died from poverty and ZANU PF induced death are too many to count. Simple statistics which we can all recall is 20000 Gukurawindi, political violence from 2002 to present over 4000. thus 24000 in peaceful times. War is what they will understand. WAR