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Jonathan Moyo speaks on Farm Mechanization grand looting

by Mandla Ndlovu
20 Jul 2020 at 13:45hrs | Views
Professor Jonathan Moyo says the much talked about farm mechanization saga was nothing more than a subsidy scheme meant to assist farmers.

Moyo's remarks follow the statements issued by former Reserve Bank Governor Gideon Gono who said the beneficiaries of the scheme were not supposed to pay back the money.

Writing on Twitter, Moyo said, "There were all those various schemes, not just the farm mechanization scheme but also the baccossi, private sector support and housing schemes etc.; with all sorts of beneficiaries who did not pay back & were not asked to pay back.

"The official position from former Reserve Bank Governor Gideon Gono is that these are not loans, meaning there are no privacy or confidentiality issues to prevent the publication of the complete and factual list of beneficiaries of the farm mechanization scheme!"

Asked on whether he was a beneficiary of the scheme, Moyo said, "I've one farm allocated Nov 2001 in Mazowe; I put Zesa and boreholes, bought tractors, implements & paid for them & the farm in full from a CBZ loan in July 2002 paid up in 2006. I got farm equipment from 2007/8 govt mechanization scheme & happy to pay for it, if lawfully invoiced!

1. I explained that the 2007/8 farm mechanization scheme was a subsidy.

2. I pointed out that there were then many other such subsidy programs.

3. No, the farm mechanization scheme cost is not in the RBZ (Debt Assumption) Act."

In 2008, Gono said farmers who accessed farming equipment under the Farm Mechanisation Programme have been granted temporary reprieve by the Reserve Bank of Zimbabwe from repaying loans on the equipment this season.

Speaking at a Chiefs Council's meeting in Bulawayo that the central bank would not be too stringent on the repayments because the season had not gone according to expectations due to excessive rains.

Source - Byo24News