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Nqobile Tshili, Business Correspondent
A BULAWAYO-based think-tank has advised Government to establish a national economic council to facilitate convergence of ideas between public and private sectors towards developing the country.

Public Policy Research Institute of Zimbabwe (PPRIZ) director Dr Gorden Moyo said successful emerging economies have set up such councils bringing together various stakeholders.

“As Government begins to seriously attend to the pressing matters of the economy, it should judiciously consider establishing a national economic council,” he said.

“This inclusive platform should consist of representatives from sectors such as manufacturing, agriculture, mining, financial services, business associations, labour, informal traders, academia and civil society among others.”

Dr Moyo said such a platform should be used for consensus building so that economic programmes being implemented do not spring shockwaves in various business sectors.

“It is my considered view that the current price distortions, arbitrages, and extortionist behaviours by some economic players can be better addressed through a national economic council consultative engagements,” added.

“This will also eliminate all elements of surprises, and uncertainties in the implementation of its first 100-day programme. The national economic council can be effectively deployed to reconstruct the much needed public confidence on Government policies and programmes.”

Dr Moyo said the economic platform will address mistrust between Government and its stakeholders while proposing ways of addressing problematic issues such as corruption. He said it was pleasing to note that Finance and Economic Development Minister, Professor Mthuli Ncube, has promised to engage economic players before announcing the policy direction, which the country should take.

Industry and Commerce Minister Nqobizitha Ndlovu has also promised to engage stakeholders on the route his ministry should take. As such, Dr Moyo said by formalising the national economic council, Government will be best placed to tap into such platforms as they have successfully worked elsewhere.

“Those who are observing the global economic governance would know that most emerging and re-emerging economies of the Global South including Ghana, Tanzania and South Africa have established spaces and platforms for engaging and tapping from the their domestic economic players, experts , professionals and citizens,” he said.

“Zimbabwe is better advised to learn from the regional and international best practices. For instance, policies such as the introduction of a new currency regime, devolution of power and diaspora policies will need commercial diplomacy as well as total buy-in by all stakeholders. Without consultation even the best policies can boomerang.” — @nqotshili