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Business Reporter
THE Confederation of Zimbabwe Industries will soon meet export goods manufacturing companies in the country to explore factors behind delays in the acquittal of export documents. The Herald Business understands that the meeting comes after CZI’s executive committee had earlier met Reserve Bank Governor Dr Gideon Gono and his officials who allegedly expressed reservations over the issue.
CZI president Mr Charles Msipa confirmed that the industrial lobby will meet exporting manufacturers to glean information on factors behind delays acquittal of export documents, known as CD1 forms in exchange control terms.
Mr Msipa said the RBZ was not happy about the delays regarding declaration of export documents hence the meeting to discuss the constraints before re-engaging the RBZ.
“We are really trying to support efforts by the RBZ to explore factors limiting (timely) declaration of export proceeds (documents).
“We want to what factors can lead to remittance of export proceeds documents. We want to gather information so as to speak to the RBZ with one voice as exports,” said Mr Msipa.
The CZI boss said in the earlier meeting with the RBZ the apex bank had expressed concern over overdue acquittal of CD1s.
CD1s are declaration forms that show the quantity and value that a particular company would have export over a given period. CD1 forms are used in international trade and companies in Zimbabwe submit the CD1 form returns to the central bank for export proceeds reconciliation purposes.
Dr Gono declined to comment saying RBZ’s position on the issue would be explained fully when he delivers his Mid-Term Monetary Policy Statement.
“That will be included in my (mid-term) monetary policy statement that I referred to earlier,” said the RBZ chief.
Bi-annually
In a statement issued last week, Dr Gono said Section 46 of the Reserve Bank of Zimbabwe Act, Chapter 22:15, requires, bi-annually in June and December, the governor to submit to the Minister of Finance a (Monetary) Policy Statement.
The statement contains a description of the monetary policy to be followed by the central bank during the next six months and a statement of the reasons for those policies.
It should also provide a statement of the principles that the bank proposes to follow in the implementation of the monetary policy and an evaluation of the monetary policy and its implementation for the last preceding six months of the year.
Dr Gono said the next six months will to a very large extent depend on the outcome of the harmonised elections whose voting process was conducted on Wednesday last week.
Against this background, he said the Mid-Term Monetary Policy Statement would be issued on a date to be advised later this month.
He said until then, the banking sector players and all stakeholders should go about their business in the normal way.
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