News / National
Chinamasa turns down Chinotimba's large coins denominations request
12 May 2016 at 15:01hrs | Views
Finance and Economic Development Minister Patrick Chinamasa turned down Buhera South MP Joseph Chinotimba's request for the production of $1, $5, $10, to $100 bond coins saying this would mean people have to hire vehicles to go to shopping with these coins.
This was after Chinotimba insisted that his request be responded to after he was ignored for a long time.
"My question was not responded to. My question to Hon. Chinamasa, is we have realised that people are not interested in the unveiling of the bond notes but they would rather have bond coins in different denominations, from one dollar up to hundred dollars. This is what they want. We have people planning to have protest marches against bond notes, so please give them bond coins," he said.
Chinamasa said he was very grateful to the question raised by Chinotimba, the Member of Parliament for Buhera South Constituency.
"But I beg to differ from his opinion that people do not like bond notes. My feeling is that people need an explanation on the use of bond notes as opposed to bond coins," Chinamasa said. "We have bankers and retail associations who have said they welcome the bond notes and this shows that the bond notes are a favourite. The problem is, we have some small fish that are not well versed in financial issues who are rejecting these band notes. This is not their problem; it is because they deal in small finances."
He said the question is, is it possible for us to have different denominations of bond coins, from one dollar to a hundred dollar coin.
"Hon. Chinotimba, this is a problem because if you have these coins you will need some form of transport to go and buy bigger items because of the weight of the coins," he said.
This was after Chinotimba insisted that his request be responded to after he was ignored for a long time.
"My question was not responded to. My question to Hon. Chinamasa, is we have realised that people are not interested in the unveiling of the bond notes but they would rather have bond coins in different denominations, from one dollar up to hundred dollars. This is what they want. We have people planning to have protest marches against bond notes, so please give them bond coins," he said.
Chinamasa said he was very grateful to the question raised by Chinotimba, the Member of Parliament for Buhera South Constituency.
"But I beg to differ from his opinion that people do not like bond notes. My feeling is that people need an explanation on the use of bond notes as opposed to bond coins," Chinamasa said. "We have bankers and retail associations who have said they welcome the bond notes and this shows that the bond notes are a favourite. The problem is, we have some small fish that are not well versed in financial issues who are rejecting these band notes. This is not their problem; it is because they deal in small finances."
He said the question is, is it possible for us to have different denominations of bond coins, from one dollar to a hundred dollar coin.
"Hon. Chinotimba, this is a problem because if you have these coins you will need some form of transport to go and buy bigger items because of the weight of the coins," he said.
Source - Byo24News
