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consultative seminar organised by Parliament and Treasury.
The minister, however, dismissed the claims saying MPs were not full-time workers entitled to exit packages.
Mutare West MP Mr Shuah Mudiwa (MDC-T) said it was high time they got their money from Treasury.
“We are approaching the end of the session and we have no assurance that we will be coming back. Can the minister tell us if he is going to give us exit packages and allowances?” he asked.
His Mutare South counterpart Cde Fred Kanzama weighed in demanding to know whether they would get their sitting allowances.
Other legislators raised the same issue and wanted to know whether Treasury would make provision for the Constituency Development Fund.
Minister Biti, however, told the legislators that they were not entitled to exit packages.
“There is a new term that I am hearing for the first time, that of exit package. You are not full time employees that would get an exit package.
“However, there are things that are statutory . . . things like sitting allowance pegged at US$75 per sitting are obligatory,” he said.
Minister Biti promised to take the MPs’ concerns to the authorities.
He, however, said some issues raised by the legislators should not be discussed in public.
“I had an issue that I once discussed with (Mwenezi East MP Kudakwashe) Bhasikiti and the next thing I saw it on the front page of The Herald. Of course, I had to deny it,” he said.
He said there were a number of issues that would be addressed by the proposed CDF Bill.
These, he said, related to the conflict between the House of Assembly members and senators.
On the banking sector, Minister Biti said Government had come up with a comprehensive legal statute to protect depositors.
He said Government would amend the Banking Act whose details were already before principals.
“We are extremely unhappy as Government with banks because we do not think the sector is aligned to the developmental expectations of the country,” he said.
Minister Biti said the amendments would address the issue of high interest rates, absence of interest on deposits, and bank charges.
He said the amendments would also address issues relating to how much shareholding an individual can have.
“We have powerful shareholders with more power than management,” he said.
Minister Biti said the proposed legislation would give guidelines on who would sit on the board of a bank.
A person would also not be allowed to sit on more than one board, he said.
The amendments, he said, would create a bank ombudsman to ensure that consumers are protected.
“When a bank fails, the shareholder is seen enjoying while clients are suffering.
“We will remove the corporate veil so that the shareholder will also feel the pain,” he said.
Minister Biti also announced that Treasury would clear its debt with fertiliser producers and seed houses before the 2013 National Budget announcement.