admin
Herald Reporter
The Government last week fined 163 entities for abusing the foreign currency auction facility, while 284 were investigated by the Financial Intelligence Unit, Deputy Minister of Finance and Economic Development Clemence Chiduwa told the National Assembly yesterday.
The Deputy Minister said this amid calls by Parliament for Government to ban and press criminal charges against entities that are not accepting the Zimbabwe dollar, but accessing foreign currency at the RBZ auction.
Deputy Minister Chiduwa also said out of 28 entities that were monitored by the FIU last week, only 11 were using the auction rate.
“The FIU, however, has no capacity to monitor the whole country and is now working with the National Economic Conduct Inspectorate and other security agencies to monitor,” Deputy Minister Chiduwa said.
During the National Assembly question and answer session yesterday, MPs called for stiffer penalties against those abusing the auction system after Rushinga legislator Cde Tendai Nyabani raised the issue as a matter of national interest on Tuesday.
Uzumba legislator Cde Simbaneuta Mudarikwa said it was high time Government handed down stiffer penalties.
“All those who are caught abusing the auction system or refusing to accept the local currency should be blacklisted and be banned from accessing the money,” Cde Mudarikwa said.
Mutare Central legislator, Mr Innocent Gonese echoed similar sentiments saying there was need to impose custodial sentences adding all those caught abusing the foreign currency auction facility should be made public.
Speaker Advocate Jacob Mudenda proposed to the Deputy Finance Minister that Government brings to the House legislation that provide for stiffer penalties.
“Why don’t you bring in your proposed so that the august House can look at it and deal with this issue,” he said.
Deputy Minister Chiduwa admitted that the current penalties were not deterrent enough.
He said that Government was using civil and administrative penalties to punish offenders but the measures were proving ineffective and admitted there was need to review the penalties.
Online Reporter