The Confederation of Zimbabwe Industries (CZI) has urged Government to increase capital expenditure on power generation and water supply in order to revive the manufacturing sector.
The calls come as the Minister of Finance, Mr Tendai Biti, prepares to present the 2013 National Budget on Thursday.
Industry experts say the manufacturing sector, facing myriad obstacles ranging from the cost of raw materials to power outages, requires an estimated $2 billion to operate at full capacity.
Currently, Zimbabwe is generating 1 329 megawatts (MW), with an additional 100 MW being imported from neighbouring countries, against a national demand of 2 200 MW to meet both industrial and household use.
In an interview last week, CZI chief economist Mrs Lorraine Chikanya said Government must invest in key projects that will add value to much-needed growth in the economy.
“Government must identify key projects which will add instant value to the economy. Projects on power generation and water supply are very important to economic recovery. Industry is also concerned on the continued decline of the proportion of the budget being allocated to capital expenditure,” said Mrs Chikanya.
Discover more from Nehanda Radio
Subscribe to get the latest posts sent to your email.
