Norton legislator Riuchard Tsvangirai yesterday accused Deputy Finance Minister Kudakwashe Mnangagwa of lying after Mnangagwa told parliamentarians to be patient and wait for the long-awaited Monetary Policy Statement as it would address key challenges on inflation and the exchange rate.
Tsvangirai had asked what the government was doing to address sky-rocketing inflation.
Mnangagwa said inflation was being fuelled by exchange rate volatility but this would be addressed when the government announces its monetary policy which will have comprehensive currency reforms.
Mnangagwa could not, however, be cornered into answering when the monetary policy would be announced.
It is usually announced in the first two months of the year but Zimbabwe is now in the last month of the first quarter.
Full Q&A:
HON. TSVANGIRAI: Thank you, Hon. Speaker and good afternoon.
THE HON. DEPUTY SPEAKER: Good afternoon.
HON. TSVANGIRAI: My question is directed to the Minister of Finance, Economic Development and Investment Promotion. What is the Government doing to reduce the high cost of living and sky-rocketing inflation?
THE DEPUTY MINISTER OF FINANCE, ECONOMIC DEVELOPMENT AND INVESTMENT PROMOTION (HON. D. K. MNANGAGWA): Thank you Madam Speaker and thank you Hon. Member for that question of national interest. Madam Speaker, the issue of inflation in Zimbabwe is tied to exchange rate volatility. You will find that the rising components of the prices is usually tied in to the Zimbabwe dollar component. As mentioned, I think a few weeks ago, Government is going to be going through some currency reforms, some reforms of our exchange rate management systems. This will be coming through the Monetary Policy Statement in the next few weeks.
So, we would like for our Parliamentarians to be patient and wait for that Monetary Policy Statement that will have some reforms that will speak to the rising inflation and exchange rate volatility. I thank you.
HON. TAFANANA ZHOU: Thank you Madam Speaker Ma’am. My supplementary question to the Deputy Minister pertains to other Government departments that are charging services in foreign currency such as the Central Vehicle Registry (CVR). You can only have vehicle registration in USD and you cannot do so using local currency. I thank you. – [HON. MEMBERS: Inaudible interjections.] –
THE HON. DEPUTY SPEAKER: Order, order Hon. Members, please may we have order in the House.
HON. D. K. MNANGAGWA: Thank you Madam Speaker, Ma’am. According to our multi-currency regime, the policy is, anyone trading would be able to charge in any currency they want but when you receive, you are supposed to receive any other currency, be it the Zimbabwe dollar or forex. So, if there are other Government departments or parastatals that are only charging in forex, they are operating outside the law.
Let me hasten to say, at the moment in our country, with regards to our currency – [HON. MEMBERS: Inaudible interjections.] – Madam Speaker, your protection please. Like I said earlier, the exchange rate is what is problematic at the moment. This is why you will discover that some Government departments will be operating as if they are digressing from Government policy. This is something that is happening at the moment as we seek to address the problem through the Monetary Policy Statement. By the time we issue the statement, there will be collective measures that will include any policies that may not be followed at the moment. I thank you.
HON. TSVANGIRAI: Thank you Madam Speaker. I realise that the Hon. Deputy Minister is not telling the truth. – [HON. MEMBERS: Inaudible interjections.] –
THE HON. DEPUTY SPEAKER: Order, order please may we have order in the House. Hon. Tsvangirai, you cannot put words in the Hon. Deputy Minister’s mouth for him to respond according to your expectations. It is wrong of you to say that the Hon. Deputy Minister is not telling the truth. Please withdraw that statement!
HON. TSVANGIRAI: Thank you Madam Speaker – [HON. MEMBERS: Inaudible interjections.] –
THE HON. DEPUTY SPEAKER: Order, order, may we have order in the House. Hon. Tsvangirai, you should first start by withdrawing your statement.
HON. TSVANGIRAI: Thank you Madam Speaker. My question is – [HON. MEMBERS: Inaudible interjections.] – I withdraw Madam Speaker.
THE HON. DEPUTY SPEAKER: Thank you.
HON. TSVANGIRAI: My supplementary question is, when are we getting the Monetary Policy Statement because people can not afford to put food on the table, they cannot afford…
THE HON. DEPUTY SPEAKER: Order, order, may you please stick to one language and stop code switching.
HON. TSVANGIRAI: My question is when are we going to receive the monetary policy because where we come from, people cannot afford to put food on the table? They cannot afford healthcare – [HON. MEMBERS: Inaudible interjections.] – Madam Speaker can I be protected please?
THE HON. DEPUTY SPEAKER: Hon. Tsvangirai, we want order in the House. If you want to quarrel you can go outside.
THE HON. DEPUTY SPEAKER: Thank you.
HON. TSVANGIRAI: My supplementary question is, when are we getting the Monetary Policy Statement because people can not afford to put food on the table, they cannot afford…
THE HON. DEPUTY SPEAKER: Order, order, may you please stick to one language and stop code switching.
HON. TSVANGIRAI: My question is when are we going to receive the monetary policy because where we come from, people cannot afford to put food on the table? They cannot afford healthcare – [HON. MEMBERS: Inaudible interjections.] – Madam Speaker can I be protected please?
THE HON. DEPUTY SPEAKER: Hon. Tsvangirai, we want order in the House. If you want to quarrel you can go outside.
HON. HLATWAYO: On a point of order Madam Speaker.
THE HON. DEPUTY SPEAKER: Honourable, please take your seat – [HON. MEMBERS: He is the Leader of the Opposition.] – Yes, I know very well he is the Leader of the Opposition. By being the Leader of the Opposition, he is supposed to keep the Hon. Member in check so that there is order.
HON. HAMAUSWA: There is noise from the other side of the House – [HON. MEMBERS: Inaudible interjections.] –
THE HON. DEPUTY SPEAKER: Please, may we have order – [HON. MEMBERS: Inaudible interjections.] – Hon. Members, may we have order in the House. Hon. Hlatwayo and Hon. Hamauswa, I expect good behaviour from you as leaders.
HON. KARENYI: Supplementary question Madam Speaker.
THE HON. DEPUTY SPEAKER: The supplementary question has not yet been responded to. You are a seasoned Member of Parliament and therefore you should know the rules.
HON. KARENYI: I thought you had asked him to sit down because you were saying he is mixing languages. I thought maybe you did not give him the opportunity. Thank you.
THE HON. DEPUTY SPEAKER: Please, take your seat.
HON. D. K. MNANGAGWA): Thank you Madam Speaker and thank you to the Hon. Member who I can assure our oath of office does not permit us to come and lie in this august House. As Government, we come and we articulate the facts as they are.
To his question in my previous statement, I had mentioned that in the next few weeks, I think the Minister, prior mentioned in the fullness of time that the reason why there has not been a very clear time line is because we are going through a reform process which involves consultations, engagements and in all earnest, Government is committed to coming up with a regime that is probably the last time that we see rising inflation and exchange rate volatility. This process needs to be done right. I would plead that we have patience as this is going to be a pivotal piece within our economy. I thank you Madam Speaker.
HON. MATEWU: Point of order Madam Speaker. Thank you Madam Speaker. About four weeks ago, this question rose and the same Minister came here and said in a very few weeks they are going to come with the monetary policy.
Madam Speaker we come here to Parliament to question the Executive. The Executive must be sincere with us. We are Members of Parliament. We are not some pub. If we ask questions to the Executive, we expect to get answers. We want the Hon. Minister to be able to tell us when that monetary policy is coming. It is not good enough to come every week, after every one month and we are told that – [HON. MEMBERS: Inaudible interjections.] – We want answers Madam Speaker.
THE HON. DEPUTY SPEAKER: Hon. Matewu, your point of order is over ruled.
HON. TOGAREPI: Madam Speaker, if I can have your indulgence, I just want to raise an issue of concern in terms of the foul language that is being used by the other side of the House. I think we cannot tolerate that. We are patient, but I think they are provoking Hon. Members to react to their statements. I think we are in an honourable House. Let us use language that seeks to get information that we want from the Executive, not insulting questions – [HON. MEMBERS: Hear, hear.] –
On a point of order Madam Speaker.
THE HON. DEPUTY SPEAKER: Honourable, please take your seat – [HON. MEMBERS: He is the Leader of the Opposition.] – Yes, I know very well he is the Leader of the Opposition. By being the Leader of the Opposition, he is supposed to keep the Hon. Member in check so that there is order.
HON. HAMAUSWA: There is noise from the other side of the House – [HON. MEMBERS: Inaudible interjections.] –
THE HON. DEPUTY SPEAKER: Please, may we have order – [HON. MEMBERS: Inaudible interjections.] – Hon. Members, may we have order in the House. Hon. Hlatwayo and Hon. Hamauswa, I expect good behaviour from you as leaders.
HON. KARENYI: Supplementary question Madam Speaker.
THE HON. DEPUTY SPEAKER: The supplementary question has not yet been responded to. You are a seasoned Member of Parliament and therefore you should know the rules.
HON. KARENYI: I thought you had asked him to sit down because you were saying he is mixing languages. I thought maybe you did not give him the opportunity. Thank you.
THE HON. DEPUTY SPEAKER: Please, take your seat.
HON. D. K. MNANGAGWA: Thank you Madam Speaker and thank you to the Hon. Member who I can assure our oath of office does not permit us to come and lie in this august House. As Government, we come and we articulate the facts as they are.
To his question in my previous statement, I had mentioned that in the next few weeks, I think the Minister, prior mentioned in the fullness of time that the reason why there has not been a very clear time line is because we are going through a reform process which involves consultations, engagements and in all earnest, Government is committed to coming up with a regime that is probably the last time that we see rising inflation and exchange rate volatility. This process needs to be done right. I would plead that we have patience as this is going to be a pivotal piece within our economy. I thank you Madam Speaker.
HON. MATEWU: Point of order Madam Speaker. Thank you Madam Speaker. About four weeks ago, this question rose and the same Minister came here and said in a very few weeks they are going to come with the monetary policy.
Madam Speaker we come here to Parliament to question the Executive. The Executive must be sincere with us. We are Members of Parliament. We are not some pub. If we ask questions to the Executive, we expect to get answers. We want the Hon. Minister to be able to tell us when that monetary policy is coming. It is not good enough to come every week, after every one month and we are told that – [HON. MEMBERS: Inaudible interjections.] – We want answers Madam Speaker.
THE HON. DEPUTY SPEAKER: Hon. Matewu, your point of order is over ruled.
HON. TOGAREPI: Madam Speaker, if I can have your indulgence, I just want to raise an issue of concern in terms of the foul language that is being used by the other side of the House. I think we cannot tolerate that. We are patient, but I think they are provoking Hon. Members to react to their statements. I think we are in an honourable House. Let us use language that seeks to get information that we want from the Executive, not insulting questions – [HON. MEMBERS: Hear, hear.]
Source: ZimInsider
