Investigate all loss-making parastatals before bailing them, says Senator Tongogara
Senator Angeline Tongogara has called on Finance Minister Mthuli Ncube to consider investigating loss-making parastatals first before giving them bail-outs.
Zimbabwe has several parastatals that have been making losses and they continue to get bailouts from the government.
Some of them such as the National Railways of Zimbabwe, and Air Zimbabwe have had their debts assumed by the government.
However, speaking during the 2023 budget in the Senate, Tongogara said the parastatals need to be interrogated to check if they are indeed operating and how they are failing to make a profit.
‘’Mr President, there is the issue of State enterprises. My request to the Honourable Minister is that each and every year we are told that they are making losses and we always hear the Government bailing them out.
‘’Honourable Minister, my request is that these companies must be interrogated and investigated as to whether they are operating. It should be known that they are State companies and they should be able to make profits.
‘’If there is a loss, the Government should then take measures to ensure that Government funds are not abused through bailing them out. So measures should be taken that if there are losses, it has to be addressed for those companies to be viable. ‘’If they are to be assisted, they should obtain assistance for them to start making a profit that should then find its way back to the fiscus,’’ she said.-
Investigate all loss-making parastatals before bailing them, says Senator Tongogara
