Net closing in on economic saboteurs

By Peter Chivhima

THE net is closing in on economic saboteurs who are abusing the foreign currency auction system as government is considering stiffer penalties for those found on the wrong side of the law.

It has emerged that some of the companies that are getting forex through the foreign currency auction system, are abusing the facility by creating mafia syndicates to inflate prices and cause shortage of some basic commodities.

This has attracted the attention of Parliament with the issue dominating proceedings in the National Assembly this Wednesday.

“We don’t want to impose price controls but we are calling for discipline in the financial sector. At the moment we have penalties for those abusing the foreign currency auction system but we think maybe there is a need for stiffer ones,” said Hon Clemence Chiduwa, Deputy Minister of Finance and Economic Development.

The Deputy Minister of Finance and Economic Development Honorable Clemence Chiduwa also assured the nation that the Financial Intelligence Unit is working flat out to expose the culprits.

Payment of school fees for the teachers’ children was also debated.

“We are appealing for government to come up with some a waiver so that the children of teachers are allowed into school without paying while modalities are being put in place,” said Chegutu Legislator, Hon Dexter Nduna.

Creating a conducive environment for youths and women to come up with their own businesses and employment opportunities are some of the issues which were on the agenda.