Govt crafts measures to curtail unauthorized borrowing

Govt crafts measures to curtail unauthorized borrowing
Published: 23 February 2018
Government has crafted measures to curtail unauthorized borrowing and spending chief among them Treasury directives that state entities "strictly" adhere to provisions of the Public Debt Management Act.

This comes as a data baseline study conducted in 2016 revealed, 70 percent of Zimbabwe's 107 parastatals and State enterprises were technically insolvent, illiquid and continued to bleed the fiscus due to reckless and wasteful habits of executives, which include asset stripping, mega salaries and perks.

In pursuance of enforcement of discipline in these firms, which are key economic enablers and whose services oil the economy, all transactions conducted without approval of the Ministry of Finance and Economic Planning's will be dishonoured.
- The Herald
Tags: Govt,

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