Business / Economy
Chinamasa's celebration of transition from formal to informal economy terrifying - ZCTU
04 Jul 2017 at 07:15hrs | Views
Zimbabwe Congress of Trade Unions secretary general Japhet Moyo said he was terrified listening to the Finance Minister Patrick Chinamasa celebrating the transition from formal to informal economy.
"To him and his colleagues in the ruling party, this transition is necessary after the "revolution in the agrarian reform" and the " new economy" is the way to go.
"Unlike the old order where this country could manufacture any bolt and nut, employ thousands of school leavers year in year out, train thousands in apprenticeship, the new order is literally turning the clock fourty years back," Moyo said.
"Wages in this new economy are lower than those in 1976, casualisation and precarious work with massive decent work deficit is very dominant. We have moved our labour force from high production sector to this massive informal sector which the government claims "do not have the information " on."
He also said: "so what is the excitement of Chinamasa, when he do not even have a clear policy to deal with this sector?"
"To him and his colleagues in the ruling party, this transition is necessary after the "revolution in the agrarian reform" and the " new economy" is the way to go.
"Wages in this new economy are lower than those in 1976, casualisation and precarious work with massive decent work deficit is very dominant. We have moved our labour force from high production sector to this massive informal sector which the government claims "do not have the information " on."
He also said: "so what is the excitement of Chinamasa, when he do not even have a clear policy to deal with this sector?"
Source - Byo24News
