Labour, business urge government to live within its means

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By Ndatenda Njanike

LABOUR and business leaders within the Tripartite Negotiation Forum (TNF) Wednesday called on government to desist from borrowing, overspending and subsidising any product with little regard to the dire consequences of the ill-thought move.

This they said at a meeting to come up with solutions to their drawn-out wage impasse.

Labour was represented by Zimbabwe Congress of Trade Unions, the Apex Council and Zimbabwe Federation of Trade Unions while business was represented by the Employers Confederation of Zimbabwe.

Public Service Minister Paul Mavima, Finance Minister Mthuli Ncube and Information Minister Monica Mutsvangwa represented government.

“The technical committee agreed that government should operate within its projected budget deficit, government should desist from using borrowing facilities from the Central Bank and elimination of all quasi-fiscal activities of the Reserve Bank and the channelling of subsidies and other quasi-fiscal expenditure,” they said.

Labour and business also urged government to strive to maintain a stable exchange rate, institutional reforms and productivity.

Government has overspent by over US$10 billion since 2015.