Zupco appeals to Zimra

The Zimbabwe United Passenger Company (ZUPCO), whose 50 brand-new buses are bonded over non-payment of import duty, has appealed to the taxman to release some of the buses to allow the firm to quickly raise funds to settle the debt.

Zupco was charged $50 000 duty for each of the buses imported from China, but since February this year, the buses have been gathering dust in a bonded warehouse due to the company's failure to raise the required $2,5 million.

The company's chief executive, Clifford Muwoni, said they have since written to the Zimbabwe Revenue Authority (ZIMRA) seeking the release of the buses in batches of 10 upon payment of duty in respect of the same number of buses.

Muwoni said business was low because the buses that should be raising money to clear the debt and to fund the company's operations have been parked for close to six months.