People in Bulawayo Condemn the Public Debt Management Bill


On Thursday 18 June 2015, people in Bulawayo condemned the Public Debt Management Bill. They expressed their sentiments at a public hearing held in the Small City Hall. The public hearing was being conducted by the parliamentary Portfolio Committee on Budget, Finance and Economic Development in terms of Section 141 of the Constitution which requires Parliament to consult the public on legislation under consideration by Parliament. Some of the major concerns being expressed by people in Bulawayo on the Bill were;

  • Too much borrowing powers conferred to the Minister of Finance and President
  • Debt Management Committee not inclusive
  • Parastatals not accounting to the public on their debt contraction
  • Need for transparency in the collateral the state offers for contracted debt
  • Debt contracted not equally shared with all the provinces
  • Debt contracted only benefitting private individuals e.g. RBZ debt
  • Why does the country borrow when it does not have capacity to pay back

Some participants at the public hearing dismissed the public consultations as talk shows because government did not take people’s views seriously.

 

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