Fertiliser firm, FSG is struggling to raise US$150 million in foreign currency to fund the Presidential Inputs Scheme as they have not received a foreign currency allocation from the Reserve Bank of Zimbabwe.
The Presidential Inputs Scheme is under threat as one of the fertiliser supplying firms FSG Fertilisers is failing to get support to raise the required US$150 million from the RBZ.
This emerged during a tour by the Parliamentary Portfolio Committee on Lands, Agriculture and Rural Resettlement chaired by Gokwe Nembudziya legislator Cde Justice Mayor Wadyajena.
The fertiliser plant which is situated in Mashonaland Central Province was in full throttle when the Parliamentary Committee visited the premises to have an appreciation of the operations at the company.
Responding to questions from the media after tour, the company’s managing director Mr Steve Morland said foreign currency has been a challenge as they get inadequate support from the apex bank which might affect inputs distribution.
Foreign currency has been a challenge to manufacturing companies which might cripple their operations hence affecting the supply chain.
Fertiliser firms are critical towards the successful implementation of agricultural targets.