Business / Economy
Cash crisis God sent - Chinamasa
28 Jul 2016 at 07:18hrs | Views
Finance Minister Patrick Chinamasa
Finance Minister Patrick Chinamasa has told parliament that the ongoing crippling cash crisis is a blessing in disguise.
He said it got the best out of Government as it responded by "innovative through use of plastic money".
"The cash crisis has been good in some respects" he said.
"It was God-sent. It has given us an opportunity to move away from cash based situation.
"Even when a person wants to buy a house or a car he would move around with a briefcase with cash,".
However, use of plastic money has been around for a long time but at a low scale.
Most institutions are demanding cash and point of sale machines are usually offline.
He said Government would ensure that point of sale facilities were installed and activated in several businesses including Government ministries and departments.
He said it got the best out of Government as it responded by "innovative through use of plastic money".
"The cash crisis has been good in some respects" he said.
"It was God-sent. It has given us an opportunity to move away from cash based situation.
However, use of plastic money has been around for a long time but at a low scale.
Most institutions are demanding cash and point of sale machines are usually offline.
He said Government would ensure that point of sale facilities were installed and activated in several businesses including Government ministries and departments.
Source - Byo24News
