Govt to restructure 10 parastatals

GOVERNMENT will next year prioritise the restructuring of parastatals in 2015 after failing to do so in the past three years due to bureaucratic issues.

VICTORIA MTOMBA
BUSINESS REPORTER

In the 2015 National Budget presentation, Finance minister Patrick Chinamasa said focus will be given on 10 parastatals as part of the implementation of Zimbabwe Agenda for Sustainable Socio-Economic Transformation.

“To facilitate this, I propose to avail resources amounting to $2,6 million to the Office of the Auditor-general
“The Auditor-General’s Office will be co-ordinating audits of the targeted entities to determine the challenges which the entities are facing.”

Chinamasa said there was need to have a full appreciation of the current status and challenges that faced by State entities. The situational analysis will help government to make informed restructuring policy decisions.

The parastatals to be restructured include Agricultural and Rural Development Authority, Cold Storage Company, Grain Marketing Board, Air Zimbabwe, Tel One, Civil Aviation Authority of Zimbabwe, National Railways of Zimbabwe, Industrial Development Corporation of Zimbabwe, Zimbabwe National Water Authority and Zimbabwe Power Company.

The country has 78 parastatals and most of them currently do not have fully constituted boards.
Meanwhile, the Public Finance Management Act is being amended to incorporate public enterprises and local authorities.

Most parastatals are loss makers and are severely affected by poor corporate governance, with many others badly performing en resulting in them draining fiscus.

16 Comments

  1. Long overdue indeed, especially for companies like CSC, wonder if there is still anything to restructure coz it may be too litle, too late.!!

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    1. Ko iwe ke? Kungobangoti my friend’s mum heeee njani njani…..

  3. “The parastatals to be restructured include Agricultural and Rural Development Authority, Cold Storage Company, Grain Marketing Board, Air Zimbabwe, Tel One, Civil Aviation Authority of Zimbabwe, National Railways of Zimbabwe, Industrial Development Corporation of Zimbabwe, Zimbabwe National Water Authority and Zimbabwe Power Company.” All these non-performing entities have submitted their strategic plans based on results based management principle -I guess in line with Zim-ASSET albatross.

  4. TANGAI ZVENYU NE GMB. HAKUNA FINANCIAL DISPLINE ZVACHOSE. VESE VARIKO HAVAZIWI ZEKUITA NE MARI. RESTUCTURING IS NEEDED CHOPU CHOPU.

  5. Ko EMA yasirwei

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  7. Kana kuZinwa huyai izvozvi tanzwira weduweeeeeeee 6 months no salary

  8. Why do we need so many parastatals? Air Zimbabwe and Tel One would surely be managed better in the private sector. Parastatals were created by Rhodesia to maximise the use of local resources when the country was under sanctions for denying the population majority rule. They have no place in a modern, free-market economy, and should have been disbanded or sold off decades ago. China is the only country in the modern world that has made them work, but that is an exception, and even then, many are majority-owned by the government, with significant investment (and scrutiny) brought in by the private sector. The only plausible restructure is sell off anything that isn’t essential to keep. Keep the railway network and the aviation authority, but let private players operate the trains and planes (just like we do with the roads).

  9. kana kuZESA KUNODAWO kubvisa vakaendesa mari kwamai Mujru.

  10. chero zimra izere vanehuwori.

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  12. 50% of these parastatals are not needed. GMB and CSC must be disbanded. Harare, Bulawayo, Gwelu, and Mutale must get back their Electricity Departments which Kangai nationalised in 1986. ZINWA must go. Zimbabwe Power Company must be privatised so that investors can come and build power stations. There is no railway infrastructure to talk about, Zanu destroyed all.

  13. Its a good speech but, why not start with the government ministries and departments? Really if you
    are serious you got to start from where you are,how would you measure success or failure of parastatals when the central government itself is a failure?This is a joke and probably brainwashing
    statement,how can you fail to see that failure of parastatals is only a reflection of government policy?

  14. Same talk for the past 34yrs no implementation at all i jst hope the so called bornfrees will take you seriously.

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