Parly to hold public hearings on 2 Bills

via Parly to hold public hearings on 2 Bills | The Herald June 15, 2015 by Diana Nherera

The Parliamentary Portfolio Committee on Finance and Economic Development is expected to hold public hearings for the Public Debt Management Bill and the Joint Ventures Bill starting today up to Saturday.

These are scheduled to start in Kariba, Gweru and Masvingo today and from tomorrow up to Saturday, they would be held in Chinhoyi, Beitbridge, Harare, Gwanda, Bindura, Bulawayo, Marondera, Lupane, Mutare and Victoria Falls.

Contributions made at the public hearings would be considered by the portfolio committee and included in a report to be tabled in the National Assem- bly.

Clerk of Parliament Mr Kennedy Chokuda said the purpose of the Public Debt Management Bill is to provide for the proper handling of public debt in the country and establishing a public debt management office.

“The Bill seeks to provide for the raising, administration and repayment of loans by the State and giving guarantees in terms of certain loans and to amend the Public Finance Management Act (Chapter 22: 19) (No. 11 of 2009),” said Mr Chokuda.

There are two Acts in the country that govern public debt management, namely the Constitution of Zimbabwe (Amendment Number 20) Act of 2013 and the Public Finance Management Act (Chapter 22: 19).

Mr Chokuda described the two pieces of legislation as lacking in effective debt management.

“International best practices stipulate that effective debt management requires enacting regulations that guide and provide for the establishment of a debt management office and its functions among other critical matters,” he said.

The Joint Ventures Bill seeks to provide for the implementation of joint venture agreements between contracting authorities and counter-parties.

It also seeks to establish rules that govern public-private procurement and a joint venture unit in the Ministry of Finance and Economic Development.

“The proposed Joint Ventures Bill is important as it seeks to create a framework for the promotion of investment in Zimbabwe and address the infrastructure gap,” said Mr Chokuda.