Norton Member of Parliament, Themba Mliswa has blasted government’s plans to re-open Zimbabwe Iron and Steel Company (ZISCO steel) saying they must desist from single handed heroic acts as they do not help the country’s bid to revive the ailing economy.
By Lisa Tazviinga
Addressing the recently Zimbabwe Trade and Investment Conference and Expo 2018 in Harare, Mliswa who is also the Parliamentary Portfolio Committee on Mines and Energy chairperson said government could use the $1 billion investment secured to revive Ziscosteel on other viable projects instead of throwing on an already failed company.
“One Billion dollars is the money required for Ziscosteel to re-open, but that money is enough to build a new company instead,” said Mliswa.
He added that if government to achieve economic growth, there was need to focus more on the future rather than trying to resuscitate a failed business venture.
Mliswa noted that Ziscosteel’s life span of 50 years makes it an unattractive investment in addition to its reliance on coal at a time the global community is talking about clean energy.
“In 50 years should we still be talking about steel and coal or the green revolution that is there now?
“How can the government invest a Billion dollars in Ziscosteel, which is still using coal for energy which in 50 years will run out,” said Mliswa.
“Government cannot do everything, when they do they cannot do it properly, why not let the people do the business,” added Mliswa.
He advised government to ensure promote the ease of doing business in Zimbabwe by reducing tax and embracing rapport among themselves and their policies.
“The government must open up to ensure the ease of doing business for investors, taxes must be brought down and policies must follow, which augments what the President is advocating for to avoid inconsistencies in government which drives away potential investors,” Mliswa said.
The Redcliff based company was at one point, Africa’s biggest integrated steel maker before corruption and maladministration resulting in the fall of the once giant of the Midlands Province.
President Emerson Mnangagwa announced early this year government’s plans to resuscitate Ziscosteel through a capital injection of US$1 Billion.
