Thumbs down for proposed forex law

Business Top Stories Zimbabwe

Zimbabweans say plans by government to compel all importers to declare their sources of foreign currency is unreasonable and must be dropped.

Last week the country’s Finance and Economic Development Deputy Minister Clemence Chidawu claimed that the government was now working on mechanisms to implement the policy.

He argued that the policy would encourage people to use their Nostro accounts in commercial banks.

But the proposed move is removing little cheer among ordinary Zimbabweans with a snap survey conducted by ZTN in the streets of Harare on Tuesday revealing that most individuals are against the proposed move.

“Why does it appear as if that government wants to make life difficult for us? What do they want to achieve by implementing such a policy? This is unreasonable and must be shot down,” said Terrence Maruta, a transport operator.

“If this government is indeed a listening government then this proposal should be thrown into the dustbin, it’s not what we need at the moment,” added a woman who declined to be named.