Opinion / Columnist
Government dump Statutory Instrument 64
22 May 2017 at 06:55hrs | Views
The government is set to get rid of the controversial Statutory Instrument 64 and replace it with a "local content policy".
According to Industry Minister, Mike Bimha SI64 has achieved its objectives and targets of boosting industrial capacity utilisation.
He also admitted that it SI64 caused chaos.
Early this year, Bimha said Government would introduce more policy measures to buttress SI 64 to help local producers build up on exports.
SI64 restricts the importation of 43 products that have local equivalents in a bid to protect the floundering local industry.
"To address the challenge of the threat of retaliation from our trading partners, Government will replace the import management programme with a local content policy," Bimha is quoted saying by the Herald
He added "The policy is anchored on prescribing sectoral local content thresholds for goods purchased by Government departments, industrialists and retailers, among others. The local content policy will be applied, and this will be considered as a smart protection measure. We would want to move away from the Statutory Instrument.
"To do this, we need to consult and consult widely so that we come up with a vibrant local content policy to enhance the Buy Zimbabwe concept."
According to Industry Minister, Mike Bimha SI64 has achieved its objectives and targets of boosting industrial capacity utilisation.
He also admitted that it SI64 caused chaos.
Early this year, Bimha said Government would introduce more policy measures to buttress SI 64 to help local producers build up on exports.
SI64 restricts the importation of 43 products that have local equivalents in a bid to protect the floundering local industry.
"To address the challenge of the threat of retaliation from our trading partners, Government will replace the import management programme with a local content policy," Bimha is quoted saying by the Herald
He added "The policy is anchored on prescribing sectoral local content thresholds for goods purchased by Government departments, industrialists and retailers, among others. The local content policy will be applied, and this will be considered as a smart protection measure. We would want to move away from the Statutory Instrument.
"To do this, we need to consult and consult widely so that we come up with a vibrant local content policy to enhance the Buy Zimbabwe concept."
Source - Vince Musewe
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