Parly business resumes today

Farirai Machivenyika Senior Reporter
Parliament business is expected to resume today after taking a break for the festive season, with Portfolio and Thematic committees expected to discuss the 2014 National Budget presented by Finance Minister Patrick Chinamasa last December.Minister Chinamasa presented a US$4, 2 billion Budget that is hinged on using local resources especially the country’s vast mineral wealth to turn around the fortunes of the economy.

The Finance and Appropriation Bills, to put effect to the Budget, were gazetted last week ahead of debate in the National Assembly and the Senate when they resume sitting on January 27.

The chairman of the Budget and Finance Portfolio Committee Cde David Chapfika, said it was important that legislators scrutinised the budget.

“We hope that the budget will be scrutinised properly given the time we have had to analyse it since it was presented,” he said.

Line ministries are expected to give oral evidence to the various committees to give their views on their allocations in the budget.

In the US$4,2 billion budget proposal, Minister Chinamasa said policy consistency, credibility, certainty and transparency were critical for building confidence in the economy.

The economy is projected to grow by 6,4 percent mainly driven by agriculture and mining.

Agriculture is expected to grow by nine percent while mining’s growth rate is projected to be 11,4 percent.

Manufacturing is expected to grow 3,2 percent; construction 11 percent; finance and insurance 6,3 percent; transport and communication four percent; and water and electricity 4,5 percent.

The minister also said the multi-currency regime would remain in place in line with Government’s economic blueprint Zim Asset.

He also pronounced measures to incorporate artisanal miners into the mainstream economy with a US$100 million fund set aside to provide them with working capital.

Minister Chinamasa also said Government was working on a programme to provide incentives to exporters as part of measures to cut the import bill current standing at over US$3,9 billion while value addition of commodities especially minerals and agricultural produce will be pursued aggressively.