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The youths said in the event of Minister Biti failing to meet the deadline, they would stage demonstrations to press Government to act.
The Government in October last year pledged to avail a $40 million package under the Distressed Industries and Marginalised Areas Fund (Dimaf) as part of the much-touted Let Bulawayo Survive Campaign.
Eight months down the line, the funding facility remains a pipe dream amid conflicting reports between ministries in the inclusive Government.
Speaking at a Press conference in Bulawayo yesterday, MDC youths vented their anger on Minister Biti, accusing him of deliberately frustrating the release of the money.
“The Ministry of Finance has up to now refused to deposit money into CABS account. The handful of companies that have accessed Dimaf are in no way representative of Bulawayo. As young people of Bulawayo, we are the worst affected by the high unemployment levels due to companies folding or scaling down operations due to lack of working capital,” said the provincial youth spokesperson Mr Khumbulani Malinga.
“We are therefore, giving Minister Biti an ultimatum to release the money that he is supposed to deposit into CABS account by the end of this month or else we will mobilise all the unemployed young people who are already agitated by now to demonstrate. We will make the city come to a standstill until you sort out this mess,” he said.
When Dimaf was launched in October last year, the Government, in partnership with Old Mutual, committed itself to provide $40 million for Bulawayo firms through CABS.
The arrangement was that Govern-ment would deposit $20 million with Old Mutual depositing the other half.
Early this year, Minister Biti only deposited $10 million and it is still not known when the remaining $10 million would be deposited before beneficiaries access the funding.
The youths contend that further delays in the disbursement of Dimaf was tantamount to denying them employment opportunities.
Zimbabwe Leather and Shoe Allied Workers Union organising secretary Mr Matthias Nyanete said many companies had pinned their hopes on Dimaf and were disappointed by delays in disbursing the money.
Habakkuk Trust chief executive officer Mr Dumisani Nkomo said all concerned ministries should give a joint statement in order to clear the confusion.
Said Mr Nkomo: “The issue of Dimaf is disappointing. We have been pushing for the disbursement for months now. The Ministry of Finance should facilitate the release of the funds as soon as possible. I support the youths who have given the Minister a deadline to release the money. All the ministers concerned should issue a joint statement instead of making conflicting and confusing pronouncements.”
Captains of industry, workers, economists, Cabinet ministers and politicians have also called for the speedy disbursement of money under Dimaf which ailing companies desperately need to use as working capital.
Last month, Youth Development Minister Saviour Kasukuwere castigated political leaders for turning Matabeleland region into a football pitch by politicising Dimaf.
President Mugabe has said urgent measures must be put in place to revive Bulawayo companies. The President is on record saying proceeds from the diamond sales should be channelled towards recapitalising companies in the city so that the city can retain its status as the country’s industrial hub.
About 60 companies applied for the fund but the status of the applications is still a mystery as CABS has been adamant it would not release the information.
Online Reporter