Former Zimbabwe Revenue Authority (Zimra) Commissioner General Gershem Pasi has been dragged to the High Court over a $129 000 debt he allegedly owes African Banking Corporation of Zimbabwe (BankABC).
According to High Court papers, Pasi was extended a $250 000 loan by the bank in January 2014 and has since failed or neglected to repay the loan facility.
The loan was to accrue 15 percent interest per annum and in the event that Pasi defaults payment of any of his installations, a 25 percent interest per annum would be charged.
The bank, represented by its country manager Daniel Muganiwe said the loan agreement stated that should Pasi fail to make payment of any instalment of any amount due in terms of the facility the whole amount immediately becomes payable and due.
The defendant defaulted on making due and punctual repayments under the written memorandum of lease agreement and as at February 2018, is in arrears in the sum of $129 846.26.
Despite demand, the defendant has refused, neglected or failed to pay the plaintiff the sum of $129 846.26
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Gershem T. Pasi is a former ZIMRA Commissioner General and Member of the Revenue Board. In April 2016 he was suspended from duty following corruption allegations involving vehicle imports. He resigned from his post in May 2017, after spending almost a year on suspension. Read More About Gershem Pasi
The Zimbabwe Revenue Authority is a government department which is responsible for the collection of state revenue in form of excise duty, customs duty, road tolls, corporate and civil taxes. In addition, it also facilitates trade, offers fiscal advise to the government as well as... Read More About ZIMRA