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Minister Chinamasa

Nyemudzai Kakore Herald Correspondent
Debate on the proposed 2017 National Budget kicked off in the National Assembly yesterday with most legislators conceding that the Reserve Bank of Zimbabwe Amendment Bill had eased cash shortages in the country.

The debate commenced after Finance and Economic Development Minister Patrick Chinamasa had asked the House to suspend provisions of Section 51 of the Standing orders to expedite the second reading and debate of the Reserve Bank of Zimbabwe Amendment Bill, Budget debate, and The Finance and Appropriation Bills.

The motion was agreed to.

Minister Chinamasa said bond notes were not introduced to stop cash shortages, but were introduced to curtail the vanishing of the US dollar from the market after a realisation that even the nostro accounts were becoming empty.

He reiterated that the bond notes were interchangeable with the US dollar and emphasised the need for individuals to maintain single accounts.

“The urgency is obviously with respect to the budget, which we should have debated and resolved in December so that we start with the new financial year with the new Budget and it is my desire that we expedite the resolutions of this matter,” he said.

“The introduction of the bond notes was to achieve two purposes, to push and promote production. This is why the 2017 budget is addressing and giving various fiscal incentives to those who produce and exporting. They are on cloud 99 as they are seeing a recognition by the Government.

“The second purpose was to stop the evaporation of the US dollar from our markets. People were coming here to sell cheap things just to get hold of our dollars. The foreign currency we are defending is not generated by us. If producers don’t export we don’t have any foreign currency.”

During debate, Uzumba MP Cde Simbaneuta Mudarikwa said the introduction of the bond notes had improved performances of the Small and Medium Enterprises as well as the buying of inputs for this year’s agricultural season since money was circulating in the market.

MDCT chief whip Mr Innocent Gonese had expressed reservations on the suspension of Standing Order 51, saying justice will not be achieved as the processes would be rushed.

“This is not a good practice. We had ample time to have debated the Budget.

“All political parties must prioritise important issues. What we find objectionable from this side is that we will rush through the process, we will not apply our minds because we have run out of time. Today is the 24th of January, we should have dealt with this in December,” he said.

Meanwhile, Acting President Phelekezela Mphoko told Norton legislator Mr Temba Mliswa that not all information in the public domain should be regarded as facts.

This was after the MP had made sensational claims without proof that the First Lady Dr Grace Mugabe had bought a ring worth $1 million thereby squandering the resources of the country.

Earlier in the day, the Deputy Speaker Cde Mabel Chinomona asked Cde Mudarikwa to leave the house and be properly dressed for Parliament as he was putting on a casual leather brown jacket.

This attracted wild cheers from legislators across the political divide after Gutu North legislator Cde Ticharwa Madondo handed over his formal jacket to Cde Mudarikwa.

Mabvuku-Tafara legislator Mr James Maridadi was also asked to withdrew his words by Cde Chinomona after he called Cde Mahoka “pombi yadonha” translated to a good for nothing individual prone of not respecting the elders particularly Vice President Emmerson Mnangagwa who is also leader of the house in Parliament.