While most of the parastatals, which have been given a freehand to operate on a commercial basis, are reported to be doing well, the amounts of long term loans they owe to the government are staggering.
The face of Martha Silundika, wife of one of Zimbabwe’s national heroes, has now graced the front pages of a local Sunday newspaper on several occasions.
Regional cooperation was thrown out of the window when Fidelity Printers and Refineries, which is 100 percent owned by Zimbabwe’s Reserve Bank, failed to win a contract to print Namibia’s new currency, the N-dollar.
The Parliamentary Select Committee appointed to carry out a more comprehensive investigation into irregularities of the Zimbabwe Banking Corporation and the Merchant Bank of Central Africa in their relationship with the M and C Group of Companies -Lorac (Private) Limited- has been given the unenviable task of naming top government officials and politicians, most of whom are their bosses or colleagues, who so far four investigations have been too scared to name.
While Zimbabweans are lamenting about high taxation rates made worse by the introduction of the drought levy, and excessive and rigid customs duties and regulations which seem to be aimed at discouraging imports, international agencies seem to be impressed with the country’s revenue collection system so much that Zimbabwe has just been chosen to host the United Nations Revenue and Adminstration Centre (UNRACA).
Coper prices are expected to go up by 39 percent by the end of the year if the European economies emerge from the current recession.