MPs demand names of currency manipulators

MEMBERS OF PARLIAMENT (MP) have demanded that the Ministry of Finance bring a list of all exchange rate manipulators to the House to be named and shamed.

This was after Deputy Finance Minister Clemence Chiduwa failed to reveal the beneficiaries and companies that breached the currency auction system during the National Assembly’s question and answer session on Wednesday. .

MPs had asked Chiduwa to explain the government’s policy on exchange rate violations.

“Whenever we come up with policies, we need to make sure that we minimize arbitrage rates. Any companies that abuse the auction system will be blacklisted. The Treasury also uses civil and administrative charges and penalties; we are not going to court,” Chiduwa said.

Norton lawmaker Temba Mliswa (independent) said: ‘Can you bring this list of everyone who has benefited and a list of those who have violated exchange regulations so that we name them and disgrace them and exercise our oversight role as Parliament”.

Mutare Central MP Innocent Gonese (Citizens Coalition for Change) said the finance ministry should also produce a detailed statement explaining the discrepancies in the auction system and the parallel market exchange rate.

In an unrelated matter, MPs also quizzed Deputy Local Government Minister Marian Chombo over a possible bidding scandal, in which the government allegedly acquired fire tenders from Belarus on behalf of local authorities at questionable prices of US$464,296 each when they cost between US$26,000 and US$26,000. $30,000 in Malaysia and China.

The country has a total of 92 local authorities, which means that more than US$42 million will be used for the purchase of fire tenders.

Central MP for Marondera, Caston Matewu (CCC), demanded to know why the government is getting involved in local authority tender processes.

Mliswa said the local government ministry violated procurement regulations, while Kambuzuma MP Willias Madzimure demanded that Chombo also bring the tender documents to the House.

Chombo replied, “We follow procurement regulations, and there is nowhere my ministry has circumvented those processes. If you feel that we have not followed the tender instructions, you are free to put your requests in writing so that we provide the details.

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