Industrialists have raised concern over the delay by the government to roll out the industrial development policy, saying the performance of the local industry is now being negatively affected.
Government embarked on the formulation of the industrial development policy to promote the use of high mechanised industrial equipment, increase capacity utilisation and promote value-addition so as to enable increase local industryâ€™s revenue generation.
Since the crafting of the policy document last year, industrialists have raised concern over delays in operationalising the policy framework saying it impacts negatively on the projected growth rates targets.
Former Confederation of Zimbabwe Industries (CZI) President, Mr Calisto Jokonya said the policy document is critical in boosting capacity utilisation and the promotion of value-addition.
An Industrialist, Mr Dominic Jairos said the industrial development policy seeks to promote the use of highly mechanised equipment in the local industry hence the need for government to speed up the process to ensure that industries reap maximum benefits.
The Ministry of Industry and Commerce has been spearheading the crafting of the industrial development policy which is reported to be complete although it is yet to go for cabinet consideration.