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MPs Combine Against Mthuli Ncube

MPs Combine Against Mthuli Ncube

Opposition members of parliament have criticised the recent suspension of bank lending by President Emmerson Mnangagwa.

The legislators expressed their frustrations over the measures after Finance and Economic Development Minister Mthuli Ncube presented his state of the economy address in the National Assembly where he defended the interventions.

Former finance minister and Harare East legislator Tendai Biti (CCC) said that the ban on bank lending was unconstitutional. Biti said:

Honourable minister, the statement you have just presented lacks parliament’s legal backing.

The ban imposed on the extension of lending by banks must be reversed. It is unconstitutional.

There is also interference with the Zimbabwe Stock Exchange (ZSE) which lost US$3 billion in three days. The ZSE has been crippled, the banking sector has been crippled too.

These developments signal the government’s introduction of yet another exchange rate which is not welcome.

Honestly, how can a country survive this kind of pricing system? Float the Zimbabwe dollar. It will stabilise.

Glenview North Legislator Fani Munengami (MDC Alliance) demanded that Ncube addresses the issues that were raised by legislators. He said:

Minister, why are you going round and round. Respond to what we asked for. People have one issue.

They want food on the table, rentals and be able to pay their children’s fees.

Norton legislator Temba Mliswa (Independent) demanded the retraction of the President’s announcement. Said Mliswa:

There is a need for retraction. Some of the policies by the government have a negative impact on the people. All confidence is gone.

Meanwhile, the government gazetted a statutory instrument officialising Mnangagwa’s measures on Friday.

Statutory Instrument (SI) 96 of 2022 repealed section 22 G of the Finance Act to legalise the changes regarding the intermediated money transfer tax (IMTT) and cash withdrawals.

More: NewZimbabwe.com


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13 Comments

Stallion 1 month ago

Mugabe knows their incompitance in running the affairs of the country


Zzzzz 1 month ago

Their conceptualization of development is totally off the philosophy of this world. I'm sure they define development vlbasws on elite satisfactory approach. However, Mthuli is totally inexperienced even zanu of knows that coz they are suddeung too. Road doesn't define any development not at all, development is a complex holistic process. Mthuli takes his approach basss on zanu constitution. but it's only one day one day......!!


collins 1 month ago

Mface uyo ma1, kungoita zvaafunga,


g 1 month ago

mtuli has never applied pro people policies. he is pro thieves because he's one of them. dira Hako rizare pa 2023


Tsivo 1 month ago

I don't know what type of economics our economist is applying,...and i it's shows that they don't care about the citizens of Zimbabwe


e.g john chibadura 1 month ago

MWOS ecionomics

Tio4 1 month ago

Its voodoo economics being practised kkkkk

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General Guvheya 1 month ago

handi moziva kt ini ndirimurwere. mari totora imwe ndoyandoshandisa kuenda China for medical


koporo 1 month ago

imi musatiuraye nekuseka

Asalif 1 month ago

General muriko here uko honai munhu wenyu kozvamakanyarara wani murimi makatisvitsa kwese uku makabvisa Mugabe vanhu vachitambira US rate iripa 1:1 within 6 months it was all history Nepo Nepo scraping multiple currencies tipeiwo solution Mugabe aiva atadza papi corruption is now rampant like never before uuuuuummm you are taking this country for granted


Chapwititi Kestombela 1 month ago

This guy doesn't have any clue when it comes to running the country's economy. He failed Barbican Bank dismally, how then do you entrust such an individual with running the whole country finance ministry??? His failure at Barbican Bank was evident enough to not even consider him as a candidate at all. These are the results of one man who doesn't listen to reason but thieving friends. Have you noticed something here guys 🤔 All those who were dismissed under RGM are in the positions of influence 🤣🤣🤣🤣🤣🤣. You will understand why they were dismissed in the first place.


JonsoMusorobhangu 1 month ago

True, Mugabe's failures are running the kantry. Remember Dr. Amai vachivati Stop It, Jenerari vakanzi Ndipfureka tione. Lets unite and vote out these failures.

Simba Sote 1 month ago

Ummmmm analysis yenyu ndaitya Mukuru, chokwadi vakadzingwa and are now running the country down.


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