There is no US$40M for Bulawayo

INDUSTRY and Commerce minister Professor Welshman Ncube has said that he is "hoping" that Finance Minster Tendai Biti will make a provision for the US$40 million in the next budget.

Prof Ncube told the Sunday Mail that: "We understand treasury does not have money to channel to distressed companies. We are therefore hoping the Minister of Finance to consider will provide a framework for mobilizing lines of credit," he said.

There has been so much noise over the disbursement of the US$40 million for distressed companies in Bulawayo.

Reports are also to the effect that some cabinet ministers do not want the money to come.

Add to the cabinet confusion, other senior government officials have been quoted in the press saying the US$40 million is "not for Bulawayo alone."

Minister Biti has also been accused of trying to highjack the whole "Save Bulawayo campaign" and make it his party's project hence he ran to launch the fund without Prof Ncube who was in the COMESA summit in Malawi.

Biti belongs to the MDC formation led by Prime Minster Mr Morgan Tsvangirai's.

Cabinet has twice failed to sit and discuss about the fund, due to the absence of President Robert Mugabe and other key ministers.

The US$40 million is now viewed by many as a "too good to be true hoax" by the government.