Published: 23 September 2013

The Finance Minister, Patrick Chinamasa told captains of industry at the ZIMRA Taxpayers Appreciation Day that since the local industry is facing a number of constraints and has become a warehouse of the region, it is imperative to come up with policies to address the influx of cheap imports.

"In the coming few months, the government will have economic policies that will address the current scenario where we have become a net importer of everything and those products that we can produce locally. We are coming up with policies that will arrest the importation of cheap products which are pushing the local industry out of business," he said.

Zimbabwe's import bill stands at around US$8 billion and is mainly pushed by food stuffs and other products which the local industry can produce.

The textile industry has been the sector worst hit with down stream effects reaching the cotton industry such as the ginners and farmers.
- zbc

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