adminlost their money following the switchover to the multi-currency system.
The legislators said Minister Biti had announced two years ago that he was setting aside US$6 million to redeem Zimdollar holders but nothing happened.
They were contributing to a debate on the Mid-Term Fiscal Policy Review Statement announced by Minister Biti last week.
Chiredzi North MP Mr Ronald Ndava said some of the people in his constituency who lost their money were honest farmers who had their money deposited in banks.
“I am not happy with the US$6 million set aside, it’s not enough. We have about 800 sugar farmers and several companies and these were law-abiding citizens who were not burning money like others were doing,” said Mr Ndava.
“I propose that they be paid the equivalent of the price of sugar per tonne. A person cannot be impoverished because of a decision by the Government.”
Uzumba MP Mr Simba Mudarikwa said the failure to pay people their Zimdollar equivalent would create poverty among people.
“It’s wrong for one just to wake up in the morning and lose his money. We have an obligation to start paying those in the rural communities or those above 75 years of age. We are a Government that came from the people,” he said.
Most legislators lauded Minister Biti but urged him to give more to support agriculture.
Mberengwa East MP Mr Makhosini Hlongwane said some of the challenges the minister highlighted were an indication that sanctions were biting the economy.
In his response, Minister Biti said the notion that Government should not fund infrastructural development was misplaced since the world over the state played a pivotal role in capital projects.
He said the major problem in the economy was an appetite to spend money in a manner that was not consistent with its availability.
“In our country, we have expenditure with no relations to income. It’s consumption for the sake of it. Our problem is to manage our expenditure,” he said.
He also dismissed the notion that Zimbabwe was over-banked, saying the major problem was that banks were concentrated in one area excluding other outlying places.
“There are nine banks along Samora Machel Avenue alone,” he said.
On inflation, he warned business against profiteering, saying in this hard currency era, profit margins should be nominal.
He said there was need to rationalise the operations of State enterprises, some of which were making monthly losses of up to US$2 million like Air Zimbabwe.
Air Zimbabwe should either rationalise its business and routes or avoid situations where, for example, it goes to China with only three passengers.
“Nobody is pushing for privatisation in the neo-liberal sense. If we decapitate our political differences, it will be good for us,” he said.
Online Reporter