admin“The situation is very bad as parastatal to parastatal debts are about $900 million in total which is resulting in bad working relationships.
“The debts are resulting in poor service delivery systems in the country,” Minister Moyo said.
He said they will try and use debt swap methods whereby a parastatal can pay its debts using services rather than money.
“We can also inject capital in one of the parastatals and that can help other parastatals. This means business will improve as well as service delivery resulting in growth of the economy. We will strategise as a ministry
and once we are done we will discuss it with the Government for approval.”
He said they were also continuing with the training of board members in corporate governance to equip them with skills on running the parastatals.
“This year we are training those that were left out last year in business management, responsibilities of board members and ways of dealing with corruption. Corruption is one of the major set- backs in our economy so by training them to deal with corruption we will be supporting business growth in the country,” Minister Moyo said.
He also said that they are working on setting up a stock exchange for State enterprises. He said to improve corporate governance, the Government was working on expediting the restructuring of parastatals this year.
“Over the last year the restructuring process was really slow so we are working on expediting the process for we can’t let parastatals drain the fiscus.
“The Ministry has already published the parastatals restructuring manual which outlines the process of how to restructure parastatals,” he said.
He said the manual has guidelines to promote transparency and openness.
Online Reporter