moyo_gordon.jpgState Enterprises and Parastatals Minister, Mr. Gorden Moyo has admitted that illegal economic sanctions imposed on the country by western nations are negatively impacting on operations of state firms, hence the need to ensure parastatals operate without any hindrance.

The comments by Mr. Moyo were made during a question and answer session soon after the launch of the roll out plan of the corporate governance framework for state firms in the capital.

Minister Moyo said he envisages a situation whereby state firms operate without any hinderance for the development of the country’s economy.

Deputy Minister of State Enterprises and Parastatals, Cde Walter Chidhakwa said capital injection and the implementation of the corporate governance framework are critical in ensuring economic growth.

The corporate governance framework was launched in the capital last year by the Head of State and Government and Commander-in-Chief of the Zimbabwe Defence Forces, President Robert Mugabe in a bid to improve operations of the 78 state firms which at full capacity contribute 40% of the GDP.