News / National
Vehicle imports net US$2bn
31 Jul 2023 at 01:57hrs | Views
THE Zimbabwe Revenue Authority (Zimra) pocketed more than US$2 billion and $29 billion in local currency from vehicle imports in 2022, NewsDay has learnt.
According to Zimra, the total revenue from all motor vehicle types for the year 2022 was $29 583 267 180,33 and US$2 263 191 197,63.
However, Africa Economic Development Strategies executive director Gift Mugano told NewsDay that government revenue was not being used effectively.
"Our resources are not being used effectively and the government is not clear when it comes to US dollar revenues; their main focus is not Zimbabwean dollars.
"Naturally the Finance ministry should not have a huge budget because their role is to distribute but they use those budgets to set aside funds for emergencies even if there is no such an emergency.
"I would have wanted to see productive ministries like Industry and Commerce getting more resources to have good targets," he said.
He said some countries set aside industrial development funds, adding that government should set aside such funds to revive industry.
Meanwhile, Zimbabweans imported 315 610 vehicles amid allegations that used cars are a major contributor to air pollution and climate change.
Globally, the transport sector is responsible for nearly a quarter of energy-related global greenhouse gas emissions.
According to Zimra, the total revenue from all motor vehicle types for the year 2022 was $29 583 267 180,33 and US$2 263 191 197,63.
However, Africa Economic Development Strategies executive director Gift Mugano told NewsDay that government revenue was not being used effectively.
"Our resources are not being used effectively and the government is not clear when it comes to US dollar revenues; their main focus is not Zimbabwean dollars.
"Naturally the Finance ministry should not have a huge budget because their role is to distribute but they use those budgets to set aside funds for emergencies even if there is no such an emergency.
"I would have wanted to see productive ministries like Industry and Commerce getting more resources to have good targets," he said.
He said some countries set aside industrial development funds, adding that government should set aside such funds to revive industry.
Meanwhile, Zimbabweans imported 315 610 vehicles amid allegations that used cars are a major contributor to air pollution and climate change.
Globally, the transport sector is responsible for nearly a quarter of energy-related global greenhouse gas emissions.
Source - newsday
