Treasury has been urged to take advantage of the 2019 national budget to be announced in a few weeks to craft a policy framework that enhances transparency in the mining sector.
Civic society organisations say because of its commitment towards economic development over politics, the new dispensation has a unique opportunity to implement the Extractive Industries Transparency Initiative, which has been alluded to in previous budget statements since 2013.
The coming in of the new dispensation has heightened expectation among the civic society that there will be significant improvements in the manner in which government does business.
Zimbabwe Environmental Law Association economic governance officer Mukasiri Sibanda said the exposure to global economics of Finance and Economic Development Minister Professor Mthuli Ncube gives hope for the implementation of initiatives that will enhance transparency and accountability for both government and mining corporates.
He said this thrust should start with the 2019 national budget.
Mining specialist Norman Mukwakwami said implementation of the initiative proffers the perfect opportunity for government to show the world that Zimbabwe is indeed open for business in the mining sector.
Started in 2003 with a membership of 52 countries, the Extractive Industries Transparency Initiative is a global standard for the good governance of oil, gas and mineral resources seeking to address key governance issues in the extractive sectors.
President Emmerson Mnangagwa recently announced that an Australian Stock Exchange listed firm, Invictus Energy Limited is exploring possible oil and gas reserves in Muzarabani, Mashonaland Central Province.