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Minister Patrick Chinamasa

Farirai Machivenyika, Harare Bureau
Finance and Economic Development Minister Patrick Chinamasa has taken to Cabinet proposals that Government takes over debts of NRZ, Air Zimbabwe and the Civil Aviation Authority of Zimbabwe as efforts to revive the enterprises intensify.

Minister Chinamasa yesterday told the National Assembly that they were also drafting Bills for the takeover of the debts.

“I took the proposal to Cabinet for approval for Treasury to assume the liabilities of NRZ, Air Zimbabwe and CAAZ. I want the balance sheets of these entities to be cleaned up with a view of looking for investors,” he said.

He said Government was also addressing management issues at parastatals to reduce inefficiencies.

“We do not want to put money in a parastatal until we put management back on its footing. We must address the issues so that our resources are well taken care of. We are in the process of drafting Bills and once we are through we will bring them to Parliament.

“When we are making these decisions we are looking at the physical role the parastatals play in the economy,” Minister Chinamasa said.

The parastatals are facing debts running into millions of dollars.

NRZ is saddled with over $200 million debt while Air Zimbabwe and CAAZ debts stand at over $330 million and $240 million respectively.

Minister Chinamasa said it was premature to bring to Parliament names of prospective investors as discussions were ongoing and urged parliamentarians not to be guided by what they read in the media.

Meanwhile, Minister Chinamasa told Parliament that the commission of inquiry into the conversion process used in the conversion of pensions and insurance benefits from Zimbabwean dollars to United States dollars had completed its work.

Its report will be handed over to President Mugabe.

The commission was established in 2015 and was chaired by retired judge Justice George Smith.

This followed concerns by pensioners that their pensions and insurance benefits were undervalued during the switch over from the Zimbabwean dollar to the US