eBusiness Weekly
HARARE – President Emmerson Mnangagwa on Tuesday approved eleven investment projects for immediate implementation, a Cabinet Minister has said.
Addressing media after the Cabinet meeting, Information, Media and Broadcasting Services Minister Monica Mutsvangwa said the projects include manufacturing of fertiliser, medical and industrial gases, mining and processing of granite and ferro chrome as well as establishment of an infrastructure,housing and development Bank.
The total value of approved projects is estimated at $5,3 billion.
Mutsvangwa said Cabinet noted that the prices of basic commodities have remained too high while the pharmaceutical sector continues to demand foreign currency for purchases of medicines.
“Efforts will be taken to scale up engagements between Government and players in the pharmaceutical industry to come up with a mutual agreed solution.
“Further, going forward, Cabinet resolved that a Foreign currency utilisation monitoring mechanism be established to monitor those companies that are receiving foreign currency from the Reserve Bank of Zimbabwe,” she said.
Cabinet also called for greater enforcement of the road traffic regulations through rough improved police presence on highways following a recent bus disaster which claimed 50 lives.
“Cabinet resolved that drivers of public passenger vehicles be required to undergo defensive driving examination and re-testing after every two years,” said the Minister. – New Ziana
