MPs seek to compel govt to introduce new currency

TWO Zanu PF MPs plan to move a motion to compel government to introduce new currency measures to protect domestic industry when Parliament resumes next week.

by VENERANDA LANGA

Makhosini Hlongwane (Mberengwa East) and Oliver Mandipaka (Buhera West) gave notice in March to introduce the motion in the National Assembly which is likely to attract heated debate as some people feel introducing the Zimbabwean dollar will be detrimental to the economy.

Hlongwane, whose motion will be seconded by Mandipaka, wants to argue before the House that they were alarmed by the negative impact on industry of a strong United States dollar against Zimbabwe’s main regional trading partner currencies.

“We are concerned by the absence of Zimbabwe’s own local currency to drive economic growth and to protect the domestic industry, especially the manufacturing industry, and worried by the loss of jobs attributable to the strength of the US dollar against regional trading partner currencies,” the notice of motion read.

“We are disturbed by the high cost of doing business in Zimbabwe, particularly the high cost of production as a result of the strength of the US dollar, and further disturbed by the inability to control and direct monetary policy owing to the absence of own currency.”

In their arguments, they said they would press Parliament to compel the Executive to introduce bold and definitive currency reforms, as well as to take steps to deal with the cost of doing business environment.

“We want the Executive to introduce currency measures to protect domestic industry, and further introduce currency measures to stimulate growth of the economy as well as local demand. They should put in place measures that will enable it to control and direct monetary policy to assist exports and Gross Domestic Product (GDP) growth,” they said in their joint notice.

Zimbabwe abandoned its currency in favour of a multi-currency regime in February 2009 after it became useless paper due to a massive hyper-inflation.

18 Comments

  1. why waste parliament’s time.you should do such discussions at your useless politiburo meetings.

  2. this is total hog-shit. I thot nhlongwange thinks of which I am wrong. they have stolen everything now vaakuda kuedza zvimwe. I once said it I will say it again ” we must leave zanu pf to rule themselves out. coz mukaramba muchikwikwidza vanowana wekupa mhosva”

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  4. Mutasa Mudhidhimasi

    Here they go again these 2 useless bunch of fools. Vaguta nezvekuba vakuda kuyedza zvimwe,they really think the industry sector is down because we are using the US doller. Its funny how everyone wants to say something because if you remain quite you will be implicated to the GAMATOX gang…

  5. People we should start removing our monies from their banks and stash them somewhere waiting for the day they will bring their useless currency and let them use it alone.We suspected that this will follow after the introduction of bond coins!

    Hokoyoi nenhamo part 2. another Gono in the making.They sell us bond paper and they keep the Us Dollars to buld chicken farms

  6. Kodza Muchie

    Some people now want to play with fire!!! Bvisa OBAMA tione kuti unozvigona here. How can you remove something that you never put in place???

    1. This is the right thing to do. All currencies will compete. That’s good n healthy for an economy. Most of the problems we do have now are due to the absence of Zim dollar. These two MPs are heroes. If parliament do not want to bring bek our currency then they should demonitise it. Parliament has held the nation at ransom. Viva Hlongwane and viva Mandipaka.

  7. Do these clowns have the support of their “constituencies” or that is not important?

  8. Musanyepere kuti USD ndiro dambudziko. You get what you work for and the USD jus gives us just that. Until and unless we have an economy strong enough to support its self can we then have our own currency. Haingosiri nyaya yekuprinter mari

  9. These guys must enrol at Crescent College for some night school lessons in elementary economics & commerce

  10. mukwerekwere

    ZANU PF at wor again…remember in 2013 when that fool went to the constitutional court and got the ‘verdict’ to force the rigged election? Here we go again…..ZANU PF cannot meet it’s financial obligations so it wants the ZimKwacha to come back so it can print money again. Oh lawd! We are in trouble ladies and gentlemen.

  11. Mukanya wa Svosve

    These are two Economic Iliterate MPs who have no clue how the basis of a currency works. Without a solid economy to support the currency, it wilmbe as good as nothing.
    The two are also incapable of learning from history. They only need to review the disaster that arose from Gonomics which resulted in a worthless currency. If they want a new currency, its value will begin from where the last left off. I wonder how many Zimbabweans would like that situation

  12. I think we have two insane MPs in parliament – Mandipaka and Hlongwane and this is the problem with this random picking of Mps. Now these lunatics want us to go back to some madness again – Why? They are envious of their predecessors who got rich through the back door and they want to do the same. They want to start their black markets and I’m their strategic plans are already drawn and are ready to implement. Zimbabweans should be aware of these cheap politicians who prey on the people’s sufferings. Zimbabwe uses multi currencies and not the US$ alone you fools and you can shift to any of those to suite your condition and try politics that you don’t know here.

  13. WHAT A HAIL ON EARTH WHAT? ZIM DOLLAR DAY DREAMING TRY IT.

  14. These are two illiterate,shallow minded people who just got into politics cz of zanu . They must read “Commerce around us” text book@o level first to understand how basic commerce works. The usd stabilises things, pple can now plan around it, buy assets, invest. Bringing it will cause chaos without addressing the issues that made it to be worthless. The usd shld stay

  15. Its not illiteracy only, also idiocy and utter stupidity is at full throttle for these ZPF zealots, who are not permitted to think.

  16. do these guys even have a single qualification at all to be speaking about the country’s economics, they havent done a single thing for their own constituency and now come up with this useless motion….the problem of electing fools into office.

  17. These guys cant be serious! Govt is the biggest contributor to making it expensive to do business compared to other countries. Just look at the levies and taxes that are collected from fuel sales that make it end up being 50% more expensive than elsewhere in the region. Once we have the Zim dollar the temptation to print will always be there, and its back to black market economy, with the Hlongwanes and Mandipakas being the main beneficiaries from chaos. Just look at how many commissions and agencies that are being created every year, duplicating duties that can be done by existing bodies. An agency for pricing water is in the pipeline, a job that can be done under ZINWA, its cheaper to amend ZINWA’s mandate, simple. These are the things we will be talking about when we say this gvt is mismanaging the economy.
    Was laughing reading the Chronicle that Dokora wants to introduce a levy for any company that does business with any school, as if they are not paying any taxes already. Worse he complains as if by giving these companies business the schools are doing them a favour. The quality of MPs and Ministers really disappoints.

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