NECF holds high-level indaba Mr Guvamatanga made it clear that the particular operations of the trust meant that the existing provisions allowing for a State-owned entity to be removed from the requirements of the Procurement Act, as it was a financial holding entity that needed to be able to compete in that environment.

Herald Reporter

The National Economic Consultative Forum (NECF) yesterday hosted the national high-level dialogue on the economy in Harare with Government leaders engaging captains of industry and labour on a number of pertinent issues. 

The purpose of the meeting was to discuss and come up with robust interventions with regards to economic challenges which include escalating commodity prices and dwindling disposable incomes. 

The discussions were facilitated by high-level panellists from Government, labour, business, civil society and academia.

Sector presentations on the state of the economy focusing on achievements, challenges and solutions were delivered by a line-up of leading Government and business leaders who included the Permanent Secretary in the Ministry of Finance and Economic Development Mr George Guvamatanga, Confederation of Zimbabwe Industries president Mr Kurai Matsheza, Zimbabwe National Chamber of Commerce president Mr Mike Kamungeremu, while consumers were represented by Consumer Council of Zimbabwe executive director Rosemary Mpofu.

Presentations were also heard from the Confederation of Zimbabwe Retailers, the Zimbabwe Congress of Trade Unions representing labour, and the Reserve Bank of Zimbabwe whose Financial Intelligence Unit has in the past week sanctioned four major suppliers of basic commodities found to be involved in unscrupulous business activities.

Discussants agreed that there was need to deal with the prevailing challenges in the economy to bring relief to consumers and workers who have been on the receiving end of unfair trade practices by some businesses.

The National Economic Consultative Forum (NECF) is a think tank on economic and social policy issues.

 It originated from the Private and Public Sectors participation at the International Smart Partnership Dialogue in July, 1995 at Langkawi Island in Malaysia. 

Experts from the private sector, labour, academia, civic society approached the Government for the development of a smart partnership institution that would be the think tank for the country. 

This process led to the establishment of the National Economic Consultative Forum on 17 July, 1997 after a series of consultative meetings amongst stakeholders.

The imperative to create the NECF was necessitated by the need to tap into, and maximise existing skills and resources in key public institutions, private sector groups, civil and professional groups, as well as individuals with vested interests in the development of the economy. 

The creation of the NECF was thus based on the assumption that no particular sector or a group of individuals has a monopoly of skills or competencies to grow and develop the economy.

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