A panic stricken Zanu PF politburo on Wednesday sought to find measures to arrest the cash crisis currently frustrating the country’s citizens.
Zanu PF announced after a Politburo meeting that government is working on a raft of measures, including withdrawal limits and increased use of plastic, to address the obtaining cash crisis.
According to the party’s secretary for Information and publicity Mr Simon Khaya Moyo said the measures sought to restore market confidence.
These measures are expected to catalyse the implementation of the economic blueprint, Zim-Asset, which seeks to transform the country’s economic fortunes by 2018. It is hoped that once the measures are implemented, the cash crisis would soon be under control. He said Finance and Economic Development Minister Patrick Chinamasa, who is also the party’s secretary for legal affairs, had given a comprehensive report on measures being implemented by Government to address cash shortages.
Mr Khaya Moyo said Mr Chinamasa also briefed the Politburo on progress made on re-engagement efforts with multi-lateral lending institutions.
“The secretary for legal affairs, Mr Patrick Chinamasa, in his capacity as the Minister of Finance and Economic Development updated the Politburo on the implementation of Zim-Asset with emphasis on measures to address the cash crisis,” said Mr Khaya Moyo.
“These include use of plastic money, charges and fees on the of point of sale machines, Real Time Gross Settlement and mobile banking platforms, cash withdrawal limits, export bonus scheme and enhanced interbank market foreign exchange management.
“He ( Mr Chinamasa) gave a very clear detail on this but I am sure you will be hearing more from the Reserve Bank of Zimbabwe on these matters. He has already addressed them but certainly the situation will soon be under control.
“The aim of course, of this brief by the Minister of Finance is to restore market confidence. The Reserve Bank governor has been having meetings with key stakeholders on this matter.”
Khaya Moyo said the Politburo received a report from the party’s national commissar Mr Saviour Kasukuwere on the state of the party.
He said Mr Kasukuwere reported that the party was stable in almost all provinces and provincial structures remained the same, adding that the reported changes of provincial structures in Masvingo province were null and void.
“The national commissar Mr Savior Kasukuwere gave a comprehensive report on the status of the party provinces throughout the country,” said Mr Khaya Moyo.