Latest News Editor's Choice

News / National

Coltart tears into Mthuli Ncube's committee

by Mandla Ndlovu
05 Jan 2019 at 09:21hrs | Views
Veteran MDC leader David Coltart has dismissed the nine-member foreign currency allocation committee appointed by the Minister of Finance and Economic Development Prof Mthuli Ncube announced last night.

Coltart said the committee will bring about increase in corruption.

"Not sure what is "inclusive" about Ncube's forex allocation committee - not 1 representative of industry, tourism, mining, service/professional sector. Imagine just how susceptible this committee will be to corruption now. It literally decides who will survive -or not -the economic turmoil."

Coltart further said the committee has no checks and balances.

"Arguably the most powerful body in Zimbabwe is now Finance Minister Ncube's so called "inclusive" forex allocation committee. Aside from it not being inclusive at all it appears to have no checks and balances so will command disproportionate power which is equal to corruption."

The committee was one of the reform measures announced in the National Budget Statement presented to Parliament on November 22 2018. The Budget proposed to "establish a strong inclusive framework, through an interim foreign currency allocation committee, with broader representation as was the case in the past".

The members of the Committee are:

Office of the Presidnet and Cabinet.
1.    Mr A. Chikondo

Ministry of Finance and Economic Development
2.    Mr Z. R. Churu
3.    Mr D. Muchemwa

Ministry of Industry and Commerce
4.    Mrs F. Makombe

Ministry of Energy and Power Development
5.    Col M Mudzinganyama

Reserve Bank of Zimbabwe
6.    Mr A. Saburi
7.    Mr F. Masendu
8.    Mr G. Mawire
9.    Mr E. Matiza

Source - Byo24News