(TALKZIMBABWE) No going back on indigenization: Mutambara, Kasukuwere
No going back on indigenization: Mutambara, KasukuwereThe Standard/TZG
Tue, 23 Feb 2010 10:18:00 +0000
DEPUTY Prime Minister Arthur Mutambara and Savior Kasukuwere, the Minister of Youth Development, Indigenisation, and Empowerment, says there was "no going back" on the indigenization and empowerment regulations despite Prime Minister Tsvangirai's concerns.
Tsvangirai declared the gazetting of the indigenization and empowerment regulations giving indigenous Zimbabwean a 51 per cent stake in businesses, as null and void. "Certainly there is no withdrawal of the regulations. The objective is clear and we will work on the mechanics," Kasukuwere said.
He said there could only be amendments to the regulations that seek to force foreign owned firms to cede their majority shareholding to locals within the next five years.
"We will be talking to colleagues to improve where there are concerns. The regulations are in place and we will continue working on improving the environment," Kasukuwere added.
"I will take on board concerns of Economic Planning and Investment Promotion Minister (Elton) Mangoma because he administers the Investment Act."
Deputy Prime Minister Arthur Mutambara told online news agencies that people must disregard Tsvangirai's position on the regulations.
He said cabinet had agreed that Kasukuwere was the only one who would speak on behalf of government on the matter.
On Wednesday, Tsvangirai's newsletter announced that government had agreed to shelve the regulations.
Acting Prime PM Thokozani Khupe on Wednesday told stakeholders at a tourism investment summit that Kasukuwere and Mangoma were returning to the drawing board.
"True empowerment can only come about through formulation of a shared vision among all sectors of our society and our economy," she said.
Mangoma yesterday referred questions on the new law to DPM Khupe.
The Standard/TZG
Labels: ARTHUR MUTAMBARA, INDIGENIZATION AND EMPOWERMENT ACT (ZIMBABWE), SAVIOUR KASUKUWERE
posted by MrK @ 5:17 AM
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