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MP demands clarity on HCCL workers' shareholding
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HWANGE East legislator Joseph Bonda has asked the Minister of Justice Ziyambi Ziyambi to clarify the state of Hwange Colliery Company Limited workers share ownership facility.
Bonda made the demand during the parliament session.
In response, Ziyambi said he was not sure why Bonda wanted this, adding that before Hwange was placed on reconstruction, it was a listed company.
"So, a listed company's shares change and anyone can go and buy shares. I think this is public information which is not privy to me unless you wanted to know the shareholding and what Government was owed. It is a listed company. In a listed company, you do not ask for the shareholding of specific individuals because it is dynamic and changes depending on who purchases shares," Ziyambi said.
On the payment of pensioners' gratuity of service by HCCL from year 2000, Bonda asked the Minister of Justice, Legal and Parliamentary Affairs to brief the House on measures taken by the Government to ensure the payment of pensioners’ gratuity of service by Hwange Colliery from the year 2000.
In response, Ziyambi said, gratuity payment ceased in 1984 following the introduction of the Mining Industry Pension Fund.
"Statutory Instrument 152 of 1990 along with its amendment and SI 109 of 1993 clarifies the eligibility criteria for gratuity. These statutes specify that only contract employees who have saved for three months or more are entitled to receive a 5% gratuity upon the completion of their contracts. All permanent employees contribute to the pension fund and as such, it is not a prerequisite for them to receive gratuity," he said.
He said the provision for gratuity was initially outlined in the Statutory Instrument of 1959 which has since been rendered obsolete due to policy changes and therefore, there were no gratuities due in the year 2000.
Bonda made the demand during the parliament session.
In response, Ziyambi said he was not sure why Bonda wanted this, adding that before Hwange was placed on reconstruction, it was a listed company.
"So, a listed company's shares change and anyone can go and buy shares. I think this is public information which is not privy to me unless you wanted to know the shareholding and what Government was owed. It is a listed company. In a listed company, you do not ask for the shareholding of specific individuals because it is dynamic and changes depending on who purchases shares," Ziyambi said.
In response, Ziyambi said, gratuity payment ceased in 1984 following the introduction of the Mining Industry Pension Fund.
"Statutory Instrument 152 of 1990 along with its amendment and SI 109 of 1993 clarifies the eligibility criteria for gratuity. These statutes specify that only contract employees who have saved for three months or more are entitled to receive a 5% gratuity upon the completion of their contracts. All permanent employees contribute to the pension fund and as such, it is not a prerequisite for them to receive gratuity," he said.
He said the provision for gratuity was initially outlined in the Statutory Instrument of 1959 which has since been rendered obsolete due to policy changes and therefore, there were no gratuities due in the year 2000.
Source - Byo24News
