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No crisis in the manufacturing sector - Minister Bimha
27 Apr 2016 at 09:33hrs | Views
Industry and Commerce Minister Mike Bimha has claimed that the is no crisis in the manufacturing sector as the economy is transforming rapidly with several firms operating at 100 percent capacity utilisation.
"There are a lot of positives we can take from the manufacturing and industrial sectors. Contrary to some views, there is no crisis, but we are actually improving. Some of the sectors have seen industries achieving 100 percent capacity".
According to Bimha, agro-processor Surface Wilmer is operating at 100 percent capacity while Bulawayo-based United Refineries Limited is now averaging 90 percent.
Chemical manufacturer Zimbabwe Phosphate Industries previously operated at 15 percent capacity, but has hit 100 percent after securing a US$10-million loan. Sino Zimbabwe is at 80 percent capacity, while motoring giant Quest Motor Corporation's production capacity has increased from three to 12 percent.
"There are a lot of positives we can take from the manufacturing and industrial sectors. Contrary to some views, there is no crisis, but we are actually improving. Some of the sectors have seen industries achieving 100 percent capacity".
Chemical manufacturer Zimbabwe Phosphate Industries previously operated at 15 percent capacity, but has hit 100 percent after securing a US$10-million loan. Sino Zimbabwe is at 80 percent capacity, while motoring giant Quest Motor Corporation's production capacity has increased from three to 12 percent.
Source - Byo24News
