Government has set up a team to monitor and evaluate Statutory Instrument 64 of 2016 and asses the progress of the highly disputed import restriction measure.
The 14 member team will be mandated to screen the success of the objectives set under SI 64 for the benefit of the local economy.
Addressing journalists during the event to unveil the team, Industry and Commerce Minister, Mike Bimha said the new team will work in tandem with his ministry in an effort to oversee the progress of SI-64 which came into being in June this year.
“We have come up with this team that, when the dust settles, will be assisting in monitoring and evaluating the progress and shortfalls of Statutory Instrument 64.
“They will be meeting regularly to evaluate the impact of the statutory instrument. Among other things, the committee will be mandated to monitor employment generated as a result of this SI,” said Bimha.
The terms of reference of the committee include assessing production that will be taking place in various sectors, monitoring the growth or increase in capacity utilization.
“The committee will focus on evaluating efficiencies of the companies, evaluating impact on prices considering value chains developed as well as monitoring SMEs graduation and encouraging exports of surplus products,” Bimha added.
The SI 64 removed some of the goods from the general import license as a way of giving the local manufacturing sector a breathing space to retool and increase capacity utilization as well as creating employment for local citizens.
Minister Bimha said the committee must come up with proper assessment of the companies that were supported by the protectionist measure as well as ensure that production remains with a high quality that meets both the local and regional expectations.
“It is four months after the introduction of the SI 64 and local firms have reportedly increased capacity utilization while financial institutions have also expressed interest in funding companies covered by the statutory instrument,” said Minister Bimha.
The committee will be chaired by industrialist Mr. Mike Nyabadza who will be deputized by the Confederation of Zimbabwe Industries chief economist Mrs Dephine Mazambani.
Fourteen business organizations are part of the committee including the Standards Association of Zimbabwe who will be monitoring the quality and standards of the goods produced under the SI 64.
Consumer Council of Zimbabwe represented by Mrs Rosemary Siyachitema will be part of the committee as well as ZimTrade and the Reserve Bank of Zimbabwe.
Bimha said SI 64 might last between two to three years depending on the impact it would have had on the local industries and quality of good produced.
