Chronicle Editor
Simba Jemwa, Online Reporter
THE Government is working on raising US$115 million to fund a rescue package for the National Railways of Zimbabwe (NRZ).
Minister for Finance and Economic Development, Professor Mthuli Ncube told journalists last week that the Government has a two-step strategy that should see the parastatal get back on an even keel. He said the first step was to fix the rail network along with the signals that have been damaged over the years. Prof Ncube said the process will also involve the acquisition of rolling stock including passenger and goods wagons and locomotives.
“We have strategies in place to ensure the revival of NRZ. This first part of this strategy is the repair of the rail network itself along with the signal’s infrastructure. We are also looking at acquiring rolling stock such as passenger and goods wagons as well as the locomotives to drive them. These efforts are aimed at re-capacitating the NRZ and turn it into a profitable entity and all we need now is capacity to boost the parastatal,” he said.
The second strategy hinges on fund raising to finance the initiatives. The Minister added that Government was in negotiations with a bank and a country for access to concessionary funding.
“We are in talks with a bank and a country both of whom I cannot name at the moment for access to concessionary funds to enable us to carry through the initiatives we have put in place for the resuscitation of the NRZ. We are looking to raise US$115 million which will go towards these acquisitions at the NRZ,” Prof Ncube said.
At the same media briefing, Prof Ncube said Government expected the country to harvest over 380 000 tonnes of wheat from the winter crop which should enable the country to get by without any imports. He said the country had 76 000 hectares that was cropped this year.
“We expect over 380 000 tonnes of wheat from 76 000 hectares planted during this year’s winter cropping season. With this harvest, we do not foresee a need to import for at least the next year which saves the country a substantial amount of forex,” Minister Ncube said.
Meanwhile, Prof Ncube met members of the Bulawayo Province War Veterans league at Davies Hall and gave them an update on the progress of national projects that Government has embarked on.
He appraised the war veterans on the progress of the Vungu Dam in the Midlands, Ziminya Dam in Nkayi, the Thuli-Manyange Dam as well as the Gwayi-Shangani project. He also said Government was committed to the establishment of more irrigation schemes around the dams to ensure the nation’s food security.
“The Second Republic is committed to leaving no one behind and because of this we have projects such as the Vungu Dam in the Midlands, Ziminya Dam in Nkayi, the Thuli-Manyange Dam as well as the Gwayi-Shangani that are all at an advanced stage. We will also be establishing more irrigation schemes around these dams to ensure that we always have enough food to cater for the whole country,” he told the war veterans.
After his presentation to the war veterans, Prof Ncube donated US$2 500 towards their expenses for their conference with President Emmerson Mnangagwa in Harare. He said it was his duty to make sure that as the delegates travel to the capital, they will lack for nothing, He went on to commit to assisting them after their arrival in Harare should need be.
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derick.khumalo
Online Reporter