Development economist, Ambassador Chris Mutsvangwa has taken a swipe at some local companies that depend on government finance instead of sourcing capital from the global markets.

Speaking during the Post Budget Breakfast meeting hosted by the national broadcaster, the Zimbabwe Broadcasting Corporation (ZBC) and Zimpapers Television Network (ZTN) in Harare this Friday, Ambassador Chris Mutsvangwa said while treasury and the central bank continue to avail incentives, companies should also mobilise funding from other sources.

“Incentives are being given but why are you also not sourcing other alternative forms of funding?,” he said.

Finance and Economic Development Minister, Professor Mthuli Ncube commended the sentiments from Ambassador Mutsvangwa in light of the tax relief measures introduced by government.

“I think we have done our best and indeed the Ambassador has a real test case to justify,” Prof Ncube said.

Former Minister of Economic Planning and Investment Promotion during the inclusive government, Dr Tapiwa Mashakada said confidence building measures are necessary for industrial growth.

“This economy really needs confidence measures in order to enable the key fundamentals to be effective,”

Several packages, tax credits and incentives have been introduced by treasury to boost production in the economy.

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