Norton Member of Parliament Temba Mliswa says the freezing of bank accounts belonging to Sakunda, Croco motors, Spartan and other related companies will not stop the Zim dollar from weakening against the US dollar.

Said Mliswa, “Whether you like it or not, there’s only forex trading going on. Even if it’s stopped, where does money to pay suppliers come from? We don’t have an industry to speak of that’s manufacturing. This is where Smith was strong in having a productive industry supplying the local market.”

Mliswa added that the freezing of accounts will fuel the rise of black market and sabotage Command Agriculture.

“The only bank of note as being witnessed is the black market! Therefore, freezing accounts won’t stop the situation but more likely to exacerbate it. The rate will continue to climb so long as there’s forex scarcity. Production, production, production!!

“The rate seems to have returned to last Friday’s 23-25. The accounts of Sakunda, Croco, Access and Spartan Security remain frozen. What does this mean? It clearly means Mnangagwa was misled. It seems there’s an ulterior motive, a force behind sabotaging government programmes.

“You have a situation where suppliers are owed money, debtors have RTGS but no USD despite banking it. There’s no interbank forex available so they just accept the RTGS but go onto the market. Is it legal, no but it’s reality and for business continuance. Should it be a crime?

“We need to be honest and get to the bottom of this Mthuli Ncube or there’s no stop. We want to avoid those going to the street to buy basics. If prices are pegged in USD and sold at the rate of the day prices will increase. The scarcer the forex, the higher the rate.”