Source: Market report: Govt crafts measures to curtail unauthorised borrowing and spending – Sunday News Feb 25, 2018
GOVERNMENT has crafted measures to curtail unauthorised borrowing and spending chief among them Treasury directives that state entities “strictly” adhere to provisions of the Public Debt Management Act. This comes as a data baseline study conducted in 2016 revealed, 70 percent of Zimbabwe’s 107 parastatals and State enterprises were technically insolvent, illiquid and continued to bleed the fiscus due to reckless and wasteful habits of executives, which include asset stripping, mega salaries and perks.
The All Share index came down a further 0.22 points (0,24 percent) to settle at 88.29. Insurance giant Old Mutual shed $0,1000 to close at $5,2000; Econet eased $0,0073 to $0,6902 while Masimba closed at $0,0562 following a $0,0038 loss. Bindura decreased by $0,0026 to $0,0374, Barclays shifted down by $0,0010 to end at $0,0430 while OK Zimbabwe was $0,0004 weaker at $0,1646.
Only two counters gained ground as Afdis added $0,0300 to trade at $1,4800 and Innscor was up by $0,0075 to close at $0,9225.
WEEK ON WEEK CHANGES
-All Share Index dropped 0.57 points (0,64 percent).
-Industrial Index shed 1.92 points (0,65 percent).
-Top 10 Index came off 0.31 points (0,35 percent).
-Mining Index went up 0.21 points (0,16 percent).
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