Govt To Support Local Bus Manufacturing Companies
Zimbabwe’s minister of Finance and Economic Development, Professor Mthuli Ncube has said the government should support local industries that manufacture buses.
The minister said the move is part of the government’s efforts to promote the consumption of local products and to reduce the import bill.
Ncube made the remarks on Wednesday after touring Quest Motors, a vehicle manufacturing company based at the eastern city of Mutare, and said:
We, as government, should support local industries in our vehicle sourcing and also in bus manufacturing. We will see more of this happening over time.
We need to promote the ‘Buy Zimbabwe’ mantra as it is important for us to support our local value chains and industries. A lot of it has to do with the incentive system that we need to put in place for that to happen. That is exactly what we are developing and fine-tuning to make sure that we make local goods more attractive than foreign products. So you will find that our policy will be changing in that direction to make sure we support domestication of local value chains.
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This comes after the country has so far imported hundreds of buses from Belarus to revive the collapsed public transport sector.
Ncube speaks when the Zimbabwe United Passenger Company (ZUPCO) is failing to meet the demand even after contracting privately-owned buses and omnibuses.
More: NewZimbabwe
