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Speaking at a Zimbabwe National Chamber of Commerce presidential dinner on Thursday night, she said although Government had come up with schemes to help resuscitate industry, little resources had been availed.
“In support of the manufacturing sector, Government set up Dimaf and Zetref as concessionary funding facilities. However, the slow rate of disbursement remains a source of concern to the presidency. I urge fiscal authorities to prioritise these facilities on which most of our industries have pinned hopes for economic revival,” she said.
Government launched the Distressed and Marginalised Areas Fund (Dimaf) last year to initially provide funding for ailing companies in Bulawayo.
Although the fund was supposed to have been allocated $50 million for Bulawayo industries by now, only $10 million has been released with a handful of companies benefiting.
The $70 million Zimbabwe Economic and Trade Revival Facility (Zetref) was set up in August 2010 to recapitalise local companies. Capital for the fund was provided by the Africa Export and Import Bank which invested $50 million with the Government providing the balance from its International Monetary Fund special drawing rights.
Vice-President Mujuru said despite operating in adverse economic conditions, the manufacturing sector was set to grow by six percent this year while growth in the mining industry would be buoyed by attractive international prices.
She, however, said the Eurozone debt crisis might affect the country’s economic performance.
“The Eurozone crisis has seen European countries reducing foreign investment and aid to developing countries. This will translate to a slow- down in most economies of which Zimbabwe will not be an exception, more so given the sanctions,” she said.
Vice-President Mujuru said the country’s huge external debt might also hamper efforts for an all-encompassing economic recovery programme.
She said the debt made it difficult to mobilise funding and the Government had embarked on measures to reduce the external debt.
Vice-President Mujuru urged business to continually engage the Government on policy matters that affected them.
She said business people were not making full use of politicians to push forward their interests.
“You want to make us your masters. We are your servants. We are supposed to serve you, that’s why we are elected,” she said.
The Vice-President expressed concern that local businesses were not taking advantage of international business trips organised by her office.
She also said Zimbabweans had a casual way of dealing with their problems instead of tackling them head on.
“We are not in a hurry and not worried about anything. Why are we not serious about what we are facing and why are we not in a hurry to solve our problems,” she asked.
The ZNCC congress ended yesterday.
Online Reporter