News / National
Biti concerned over missing diamond revenue
28 May 2013 at 19:13hrs | Views
The Marange diamond mining companies have not remitted any revenue to Treasury in the first four months of the country, a situation which the Minister of Finance, Tendai Biti has said is unacceptable.
Presenting his State of the Economy Report for April at his government offices Biti said revenue from the diamond mining companies would have been channelled towards financing the voter registration exercise and the coming elections.
"There are no receipts on diamonds since January. The revenue from the diamonds could have gone a long way in sponsoring the elections," said Biti.
He said at least $113 million was needed for the elections. However, despite the non-remittance of revenue from the country's resources to the Treasury, Biti was confident that money for the elections would be found.
"We expect the UN to assist and we have written to SADC and to individual countries such as South Africa and Angola for financial assistance. We have no doubt that we will be able to secure the funds. People want to assist Zimbabwe as we have shown what we can do during the referendum and voter registration exercise," Biti said.
He said Treasury had managed to secure $25 million for the voter registration exercise following the signing of the new Constitution into law last week.
"Government is going to publish how the process is going to pan out. Every ward will have a mobile voter registration centre and every school should have the voters' roll for inspection. This funding will cover voter education, information and publicity under the Zimbabwe Electoral Commission (ZEC), police work in ensuring peace and stability and the actual work of voter registration. What we are now left with is to secure the remaining funds to cover elections," Biti said.
He called for the urgent implementation of all the outstanding reforms to ensure the holding of free and fair elections. "There is need for clarity on reforms and dates," he said.
Biti said clarity on election dates would give confidence to the economy, which the minister said was shrinking.
Presenting his State of the Economy Report for April at his government offices Biti said revenue from the diamond mining companies would have been channelled towards financing the voter registration exercise and the coming elections.
"There are no receipts on diamonds since January. The revenue from the diamonds could have gone a long way in sponsoring the elections," said Biti.
He said at least $113 million was needed for the elections. However, despite the non-remittance of revenue from the country's resources to the Treasury, Biti was confident that money for the elections would be found.
"We expect the UN to assist and we have written to SADC and to individual countries such as South Africa and Angola for financial assistance. We have no doubt that we will be able to secure the funds. People want to assist Zimbabwe as we have shown what we can do during the referendum and voter registration exercise," Biti said.
He said Treasury had managed to secure $25 million for the voter registration exercise following the signing of the new Constitution into law last week.
"Government is going to publish how the process is going to pan out. Every ward will have a mobile voter registration centre and every school should have the voters' roll for inspection. This funding will cover voter education, information and publicity under the Zimbabwe Electoral Commission (ZEC), police work in ensuring peace and stability and the actual work of voter registration. What we are now left with is to secure the remaining funds to cover elections," Biti said.
He called for the urgent implementation of all the outstanding reforms to ensure the holding of free and fair elections. "There is need for clarity on reforms and dates," he said.
Biti said clarity on election dates would give confidence to the economy, which the minister said was shrinking.
Source - Byo24News
