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Biti fumes after RBZ orders exporters to pay ZESA bills in forex

MDC Vice President Tendai Biti has criticized the move by Government to gazette Statutory Instrument 249 of 2029 which obliges exporters to pay electricity bills in US dollars.

The former Finance Minister says this was evidence that the use of local currency is not sustainable. Biti, who is also the Harare East legislator, accused Government of ruling by decree and bypassing of Parliament in making laws.

“The regime has just gazetted SI 249 of 2019 which obliges exporters to pay for electricity in US dollars. This is further proof that de-dollarisation is not working and will not work.

“Quite clearly the instrument is null and void. The RBZ does not have the powers of currency selectivity.

“The regime’s penchant for rule by regulation is dangerous and authoritarian. Only autocratic regimes bypass Parliament and rule by decree,” Biti fumed.

In passing the law, monetary authorities demand that exporters pay the Zimbabwe Electricity Supply Authority (ZESA) in forex for the next 6 months. In addition, all such forex payments have to be made from Nostro accounts, a move designed to discourage the use of black-market activities.

“The country is being run by clueless louts on the basis of ill-thought kick and hope policies and policy reversals have become the order of the day,” Biti said.

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