Zimbabwe Finance Minister evasive on muddled up de-dollarisation

Finance Minister Mthuli Ncube. (Picture: Newzimbabwe)

FINANCE MINISTER was Tuesday evasive on government policy regarding the use of foreign currency in performing domestic transactions amid accusations of double standards by authorities in administering an unpopular ban on the multi-currency regime.

Government last year moved to scrap the US dollar and other major currencies that were introduced 2009 when the country dumped its domestic currency amid a hyper-inflationary period.

However, the same authorities have since been allowing selected entities to charge their products in foreign currency while denying the same favours to the rest.

Among entities that have been given the green light to accept US dollar payments are fuel dealer Zuva Petroleum, which now has selected gas stations taking foreign currency, and food processor Innscor.

Government has also decreed the payment of duty for some products in foreign currency and lately, the payment of passport application fees in forex.

Quizzed on why government was applying double standards on its de-dollarisation policy, Ncube did not proffer any meaningful response to the question.