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Nyemudzai Kakore Herald Correspondent
Public hearings by Parliamentary Portfolio Committee on Finance and Economic Development on the Public Procurement and Disposal of Assets Bill and the Reserve Bank Amendment Bill will commence today countrywide.

The Public Procurement and Disposal of Assets Bill will repeal the Procurement Act and abolish the State Procurement Board, while the Reserve Bank Amendment Bill, seeks to give broader legal effect to the introduction of bond notes.

“In place of the board, it will set up a new body to be called the Procurement Regulatory Authority of Zimbabwe, which will not conduct procurement proceedings itself, but instead will oversee and regulate procurement activities conducted by Government ministries, statutory bodies (parastatals) and local authorities,” said Parliament in a statement.

“The Reserve Bank of Zimbabwe Amendment Bill will amend the Reserve Bank of Zimbabwe Act (Chapter 22:15) (No. 5 of 1999) to enable the Reserve Bank, with the leave of the minister responsible for finance, to issue ‘bond notes’ exchangeable at par with the United States dollar, on the same basis that it previously issued bond coins.”

According to the proposed law on the Public Procurement and Disposal of Assets Bill, the awarding of tenders would now be done by accounting officers in various State departments and companies, with the SPB playing a supervisory and monitoring role to ensure Government entities comply with the law and other set standards.

The Portfolio Committees will be divided into two groups that would be moving around provinces.

Today, Team A will hold its first public hearing in Masvingo at Flamboyant Hotel while Team B will be in Gweru.

Tomorrow’s public hearings will be held by Team A in Mutare, while Team B will be in Bulawayo. On Thursday, Team A will be in Marondera at Hopefay Hotel and Conference Centre with Team B in Gwanda at Gwanda Hotel.

Team A will be in Chinhoyi on Friday at Chinhoyi Hall while Team B will be in Lupane at Lupane Community Hall.

On Saturday, Team A and Team B will both hold meetings in Bindura in the morning and in the afternoon at Crowne Plaza hotel in Harare.