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uptake by ministries, a Cabinet minister has said.
This follows reports that Government is exploring ways to save Air Zimbabwe.
The national airline is currently plagued by serious financial woes that have seen Air Zimbabwe fail to service its traditional routes. The airline is incurring a US$2,5 million loss a month.
Speaking after a tour of of the Harare International Airport Finance Minister Tendai Biti said there has been a 30 percent uptake of the US$500 million. He, however, indicated that his ministry had launched serious lobbying for ministries and Government departments to use the funds. He said the uptake had since increased to 63 percent.
On Air Zimbabwe, Transport, Communications and Infrastructural Development Minister Nicholas Goche said Government would either bankroll Air Zimbabwe’s turnaround efforts through working capital injection or find a technical partner.
Speaking during a tour of the Harare International Airport refurbishment projects by the Civil Aviation Authority of Zimbabwe Minister Goche expressed Government’s commitment to see Air Zimbabwe continue plying its routes.
The US$30 million refurbishment programme is part of a US$500 million set aside for capital projects.
“The balance sheet of Air Zimbabwe is bad, so bad that it is difficult to attract a partner. That balance sheet is caused by the fact that revenue generated by the company is not matched by the overhead costs, but as Government we are committed to ensure that it continues flying,” he said.
Government, he said, was still pursuing all options, either to inject more capital or identify a technical partner.
“We are working towards that and to ensure that the balance sheet improves. I am not at liberty to disclose how far we have gone but we are doing something for Air Zimbabwe.”
Minister Goche, however, dismissed media reports that Air Zimbabwe had secured additional aircrafts.
Meanwhile, Minister Biti bemoaned the low uptake of the US$500 million set aside by Treasury of capital projects.
“It is important that we have a modern airport, I am impressed by what I have seen today that the money is being put to good use,” he said.
Minister Biti said public construction was very important yet it was contributing three percent of the Gross Domestic Product against an anticipated 30 percent.
During the tour, the two ministers were told that the taxi-way would be complete by July 15.
The two ministers were accompanied by CAAZ chief executive officer Mr David Chawota together with senior officials from the company.
Meanwhile, the ministers were expected to tour Joshua Mqabuko Nkomo International Airport in Bulawayo yesterday afternoon.
Online Reporter