Chronicle Editor
Oliver Kazunga, Senior Business Reporter
THE Tobacco Industry and Marketing Board (TIMB) says payment modalities for the 2021 tobacco marketing season will only be established after the announcement of this year’s monetary policy statement.
Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya is expected to present this year’s monetary policy statement any time from this week going forward.
In an interview from Harare, TIMB chief executive officer Dr Andrew Matibiri said nothing regarding the payment modalities for this year’s tobacco crop has been made.
“We are still waiting for the Reserve Bank to decide, at the moment we don’t know. I think maybe in about a week’s time we would be knowing,” he said.
“I think we are waiting for the monetary policy statement first, but its (monetary policy statement) due sometime this week.”
Last year, tobacco farmers were paid half their earnings through their Zimbabwe dollar accounts with the remaining half being deposited into their Foreign Currency Accounts. However, most farmers faced difficulties in accessing their hard currency due to failure to appreciate the processes involved.
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