mzembi 01.09.10.jpgThe Finance Ministry has been urged to provide budgetary support to the tourism and services sectors as they generate more revenue than many other sectors to the Gross Domestic Product.

The Tourism and Hospitality Industry Minister Engineer Walter Mzembi made these remarks at the official launch of the Meikles Limited Staff Share Ownership Trust and the Meikles Youth Revolving Outgrowers Scheme unveiled in Harare recently.

Minister Mzembi said the tourism and services industry is being starved of much-needed fiscal support for the expansion of projects to increase revenue generation.

He also commended the Meikles Group for complying with the Indigenisation and Economic Empowerment law, adding that the development sets a good precedence for foreign-owned companies in the country who should also follow suit.

The Meikles Share Ownership Scheme has seen 5 000 employees getting 24 million of the company’s shares, while the Youth Revolving Outgrowers Fund is a US$200 000 fund which will benefit youths from Harare and surrounding areas who venture into horticultural projects.