Source: Govt rules out rand adoption | The Herald February 3, 2017
Zvamaida Murwira Senior Reporter
Government will not adopt the South African rand, nor will it reintroduce the Zimbabwe dollar until macro-economic fundamentals are addressed, legislators heard yesterday.
Finance and Economic Development Minister Patrick Chinamasa said it was not prudent for the Government to adopt the rand as its official currency when it had no control over its exchange rate.
Minister Chinamasa said this in the National Assembly while responding to concerns by lawmakers during a debate on the Finance Bill.
The Bill seeks to give legal effect on several fiscal measures he announced in the 2017 National Budget.
Dangamvura Chikanga MP Cde Esau Mupfumi (zanu-pf) had implored Government to use the rand and the local unit.
“On the currency issue, we are not going to adopt the rand because we are not involved in the decision making of its value, whether it depreciates or appreciates,” said Minister Chinamasa.
“If it appreciates, we become the most expensive country. The route we are taking is that we are working on addressing macro-economic fundamentals such as raising exports, increasing reserves like three months cover and so on. We will not reintroduce our own currency until we address these fundamentals.”
Glen Norah MP Mr Webster Maondera (MDC-T) complained about the hiking of the level of fines for various crimes, saying it fuelled corruption, especially at police roadblocks.
Mr Maondera said it was not prudent to raise funds at a time when several people were struggling to make ends meet.
He said there was no money in bank,s making it difficult to pay the fines.
Minister Chinamasa said it was strange that legislators were against measures Government was taking to combat crime.
“These are people breaching the law,” he said.
“You must be on my side and not on the side of those breaching the law and say ‘No do not touch them,’ and yet you are legislators, we should be putting our heads together.”
Minister Chinamasa castigated lawmakers complaining about several levies and taxes being imposed on people, saying if Government did not do that, it would not be able to provide services, including paying salaries.
“Do not protect sources of taxes,” he said. “Citizens’ first obligation is to pay taxes so that you can sustain your Government for it to pay for education, health and all that you are complaining, that it is being underfunded.
“Who should I tax? I cannot tax foreigners, but whoever is earning, that is the thing we need to understand.”
Meanwhile, Speaker of the National Assembly Advocate Jacob Mudenda warned legislators against creating a quorum crisis because they would have walked out of the Chamber.
He said they had a constitutional duty to discharge in Parliament.
COMMENTS
The Zanu Command Turkeys do want to allow the Chief ANC Command Turkey a measure of control over their own “Command Zimbabwe Democracy.” If the ANC Command Turkey was afforded the privilege of Command Zimbabwe’s Currency – the local Turkeys fear that they may get gobbled up? IT is quite fine for the local Turkeys to gobble up all the farms, businesses, democratic freedoms, independent judiciary, and have total disdain for a Social Licence – but the ANC must not think that it can have it! It seems pretty obvious that we are now in the Post Truth Era globally – but it is best described as Troubled Turkey Times.
This is Zanu way keep the nation poor and humble and thankful the eat or are alive. This is not a life Zimbabwe. They need to be unseated once and for all everthing the do is for themselves. These monsters never loved you, they get you to fight and die for them. They pay for fancy homes and cars for their children that feel it their right. The hate whites because they know thats what you want to hear. Shame on all of you who eat off the gravy train there is a special place in hell for you
no zim dollar,what is the bond note IT IS THE ZIMBABWE DOLLAR AND NOTHING ELSE.
When there are insufficient funds, try cutting expenditure instead of increasing taxes. Try it, Patrick.
Which currency do you have controll over, do you determine the value of the US$ and many other currency you accepted as legal tender in Zimbabwe.
Find other means of raising money than making life difficult for the already suffering citizens. You dont pay taxes , toll fees or any of the taxes you are impossing on the ordinary citizen.
We have a lot of mineral wealth , those diamonds you people are stealing , get money from there. Busy raising money for Mugabe and Grace. Where is the money they are spending on diamond rings and holidays coming from. Have your priorities mr chinamasa and your gvt.
Very good point Felix. Effectively Patrick did not say anything on this one. The reason why he should never have been minister of finance at all anyway.
Most laymen, pretty much know the reasons why Zim can not use the Rand as official current. Yet most zanu pf idiots who are so-called MPs such Esau clearly don’t know why. Esau & a host of these zanu pf idiots occupying our parliament genuinely believed Patrick’s childish answer anyway – hence they couldn’t make a simple follow up like “so what control does Chinamasa or has on the US $?”, as you are rightly saying Felix.
this is the worst government in the world ever seen or recorded, and patrick might well make the worst minister by far at par with joseph made.
No-one competes with Made – he’s in a class of his own.