Latest News Editor's Choice

News / National

Mliswa calls for local currency

by Simbarashe Sithole
19 Oct 2021 at 16:14hrs | Views
Outspoken Norton Legislator Temba Mliswa has urged the government to promote local currency in a bid to stabilize the economy.

"Government should promote the use of the local currency to stabilise the economy and also to get rid of the auction backlog. In the interim Gvt is operating for a profit like private sector, competing with it and the result is the current mess," Mliswa said via Twitter.

He further blasted the government for taxing in foreign currency at the expense of the local currency.

"We are being misled, Gvt is the problem in this currency instead of promoting our own currency? Taxes should predominantly be levied in ZWL$.It is failure to do this which amounts to sabotaging the economy by Gvt itself."

He exonerated forex dealers and the private sector players who are always arrested in money deals.

"The problem isn't the private sector or the forex dealers who have been arrested.@czonline has revealed in it's  report that Gvt has over  US$400 million which is stashed.That money isn't doing anything.It could have been used to clear the auction backlog What is it kept for?

However, the parallel market exchange rate rocketed by 27% during the third quarter (3Q) of this year, marking its steepest ever growth in one year, researchers at Inter Horizon Securities (IH) said at the weekend.

IH's authoritative Pulse Meter, which reviewed the performance of all markets during the period came as tempers flared, with terrified authorities mounting co-ordinated raids on firms and individuals to stem the black-market rage, now seen as the greatest threat to the long-expected recovery

Whatsapp +27610282354

Source - Byo24news