Zimbabwe:Mnangagwa , Ncube and Mangundya  Assure Panicking Nation On Scarce Basic Commodities ..

Zimbabwe:Mnangagwa , Ncube and Mangundya Assure Panicking Nation On Scarce Basic Commodities ..

By Nevson Mpofu

Harare-The President of Zimbabwe, Emmerson Mnangagwa ,  Minister of Finance and Economic Planning Mthuli Ncube and Reserve Bank of Zimbabwe Governor John Mangundya have all assured the nation that there must be no panic arising from the current shortage of basic commodities .

President Mnangagwa’s statements posted on Twitter yesterday assures the nation that all the economic problems will be settled soon. He says there are robust measures to bring back the economy to normal situation.

‘’There is no need to panic. The Ministry of Finance and Economic Planning is working out flatly to mend on all the issues of national concern. These are in terms of basic commodities which are scarce on the market. The economy will move quite well. Let us remain focussed. However, we have to work on new ways of eradicating challenges affecting us.’’

Muthuli Ncube the Minister of Finance and Economic Planning is the former vice PRESIDENT of African Development Bank. He has vast experience in economic issues to be addressed for a country to move well. Ncube has alluded to the statements of the President by positively confirming on the trends of measures put in place to lift out the Zimbabwe economy out of challenges.

‘’Yes. I understand we have challenges, but I assure, we shall one day soon walk through. In our vision of Zimbabwe Economy Transformation we shall restructure and rebuild a new economy with a new vision for the nation .We have to do away with unnecessary spending. We have actually come to the conclusion that we have to work on policies of Radical Economic Transformation. ‘’

‘’This is going to be strengthened by far reaching reforms in all sectors. In a move to alleviate the challenges, we have already programs by the Reserve Bank of Zimbabwe set to boost the economy. There are measures in place to make sure basic commodities are on the market.’’

‘’Our big challenge left  is of people externalising money. Certain people are manipulating foreign currency. We have censorious laws dealing with them. It shall pass. There are other forms like money laundering and corruption once at high level in the past. These of late have gone down’’ ‘ , he pointed  out clearly .

Reserve Bank of Zimbabwe Governor John Mangundya said the national Bank released US$41 million recently. The amount is part of US$500 million in line of credit announced in the monetary policy statement issued last week.

‘’The amount is for procurement of basic commodities which we do not get adequately. We need to address this once and for all. There are basic commodities which we short fall of. These are cooking oil, bread, flour and fuel. We have to work hard to stop foreign currency manipulation.

‘’There are people who are holding Business to an extent that basic commodities fall out of the market. At last there is shortage. Prices increase as shortages continue. Demand and supply is artificially created rather than natural. Price elasticity has become the daily stretch causing unnecessary increase in these basic commodities’’, he concluded.

 

 

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