Business Advises Govt To Stop 'Recklessly' Issuing Statutory Instruments

The Zimbabwe National Chamber of Commerce (ZNCC) said that the government should stop recklessly issuing Statutory Instrument (SIs) but rather focus on policy consistency.

The ZNCC made the call in its Budget Consultation Input document ahead of the 2020 National Budget presentation next week. It said:

We had too many SIs and it’s vital for the state to stop recklessly issuing SI as a means of changing economic behaviour, the solution lies in policy consistency which comes as a result of well-researched policy interventions.

In the same vein, Government has been too slow to act on clear threats to an economic revival, the exchange rate parity is a clear example, same with command agriculture funding and now the IMT 2 per cent is a threat to business revival.

The ZNCC also called for an efficient interbank market for 2020 rather than market controls as these have never worked in the Zimbabwean economy.

The organisation reiterated its position that a free-market approach should be pursued with the provision of adequate social safety nets for the vulnerable members of society being taken into consideration.

More: Business Times