News / Local
'Vandalism derailing Zimbabwe railways'
10 Aug 2023 at 06:45hrs | Views
NATIONAL Railways of Zimbabwe (NRZ) says it has turned the corner and is making profit, but bemoaned vandalism of its assets.
This emerged during an annual general meeting held on Monday in Bulawayo.
NRZ general manager Respina Zinyanduko said the parastatal was now up to date with salaries, but was in debt with the pension fund.
"NRZ owes the pension fund a substantial sum of money which we accumulated over the years. As a post-reporting period event, shareholders are requested to note that an agreement was reached with the pension fund to settle the debt," Zinyanduko said.
"In Shona they say a goat eats where it is tied to. So underpaying people results in them finding other improper means to pay themselves and now we want to undo that by being up to date with their salaries. We also had to provide mobility for patrols against vandalism which is our main enemy."
According to Ziyanduko, NRZ generated $275 billion from its assets during the period under review.
"As you may be aware we are one of the companies that is blessed with many assets across the country, not only in workshops but even buildings across the rail line itself. Evaluation gave us a report and as a result we realised about $275,605 billion compared to a loss of $3,4 billion in 2020," she added.
This emerged during an annual general meeting held on Monday in Bulawayo.
NRZ general manager Respina Zinyanduko said the parastatal was now up to date with salaries, but was in debt with the pension fund.
"NRZ owes the pension fund a substantial sum of money which we accumulated over the years. As a post-reporting period event, shareholders are requested to note that an agreement was reached with the pension fund to settle the debt," Zinyanduko said.
"In Shona they say a goat eats where it is tied to. So underpaying people results in them finding other improper means to pay themselves and now we want to undo that by being up to date with their salaries. We also had to provide mobility for patrols against vandalism which is our main enemy."
According to Ziyanduko, NRZ generated $275 billion from its assets during the period under review.
"As you may be aware we are one of the companies that is blessed with many assets across the country, not only in workshops but even buildings across the rail line itself. Evaluation gave us a report and as a result we realised about $275,605 billion compared to a loss of $3,4 billion in 2020," she added.
Source - newsday
