Promotion of ZiG a government priority, Finance Minister tells MPs

Harare, (New Ziana)- The government will implement a raft of measures to promote use of the new Zimbabwe Gold (ZiG) currency including exclusive payment for all services using the local currency, Finance Minister Prof Mthuli Ncube said on Monday.

Appearing before the joint parliamentary portfolio committees on Budget and Finance and Industry and Commerce, Prof Ncube said it is government policy to create high demand for the local currency.

“It is government policy that we should create demand for the local currency. in this regard, going forward, certain revenue levies and government fees and services will be paid exclusively in ZiG. We are still doing the work to ensure that we promote the demand for the local currency,”he told lawmakers.

He said he government was not limited to any set of ideas on how to increase popularity of the ZiG.

“We will search low and high for any other measures that we can implement to ensure that our currency remains on demand,” he said.

Turning to the use of the ZiG for fuel purchase, Prof Ncube said the country was still in transition but soon, dealers will accept local currency without difficulty.

“I don’t know why they don’t accept ZiG . We are in a multi currency regime, they ought to accept if a buyer of fuel wishes to pay in ZIG. This issue of transition from a volatile Zimbabwean dollar to a stable ZiG will take time for people to get their heads around it but with time they will accept ZiG without difficulty. They should accept ZiG,” he told the MPs.

He said his ministry and the central bank will follow up on acceptance of the ZiG by the market.

“This is an issue we will follow up to make sure they accept ZiG and build confidence in ZiG that they can exchange ZiG for USD to import their fuel and replenish stocks,” he said.

New Ziana