The Grain Marketing Board (GMB) registered a loss of $209 million in the 2016/17 period.
Giving oral evidence before the Parliamentary Portfolio Committee on Lands, Agriculture and Rural Resettlement chaired by Gokwe Nembudziya legislator Cde Justice Mayor Wadyajena, GMB General Manager, Rockie Mutenha attributed the loss to the parastatal selling maize to millers at a subsidized cost which reflects on its books.
The GMB financial reports indicates that the company was buying maize at $390 per tonne and selling it at $240, and also failed to recover costs accruing from storage and handling fees charge to treasury.
GMB is also owed outstanding fees totalling $68 million of which $14,6 million are debts carried over from the Zimbabwean dollar era.
Parliamentarians grilled the GMB boss over the disbursement of presidential inputs on political grounds and the committee was keen to know details pertaining to the appointment of Mr Mutenha as the GMB General Manager.
GMB Board Chairman, Mr Charles Chikaura promised to furnish the committee with documentation used in the General Manager’s recruitment exercise.