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GOVERNMENT has earmarked the 2 percent intermediated money transfer tax (IMT), which has performed above target since introduction last year for infrastructure development among other key economic enablers. Further, the Government indicated that airtime levy, which has also performed well consistently and raked in $11,4 million in April, had been earmarked for medical equipment.
A report by the African Development Bank (AfDB) says that Zimbabwe needs US$26 billion to bridge its infrastructure gaps, which entails deficiencies in services associated with roads, water and sanitation, transport, electric power and ICTs. And since its introduction last year, the transactions tax, which has raised more than half a billion dollars, has been used for other critical things that include education and safety nets.
ALL SHARE
The All Share index rose by 6.57 points 3,28 percent to close at 206.79 points. Old Mutual Limited gained $0,4137 to close at $14,4169, Cassava Smartech Zimbabwe Limited added $0,2302 to close at $2,0405 and Econet Wireless Zimbabwe rose by $0,0919 closing at $2,0428. Other counters to advance were Meikles Limited which increased by $0,0500 to end at $1,0500 and CBZ Holdings Limited which added by $0,0400 to $0,4900.
Trading in the negative, OK Zimbabwe Limited lost $0,0175 to close at $0,5025. FBC Holdings LIMITED was $0,0025 weaker and closed at $0,5025 and Star Africa Corporation Limited declined by $0,0001 to settle at $0,0200.
Online Reporter