ZiG Launch Won't Disrupt Payment Of Civil Servants' Salaries - Mthuli
Finance, Economic Development and Investment Promotion Minister, Mthuli Ncube, has said civil servants will get their salaries on time this month, April 2024, despite the recent introduction of a new currency, ZiG, which replaced the Zimbabwe dollar.
During a question and answer session in the National Assembly on Wednesday, the MP for Emakhandeni-Luveve, Discent Bajila (CCC), sought clarification from Minister Ncube regarding the currency in which civil servants would be paid this month since the central bank announced that ZiG notes and coins will be introduced on 30 April.
In response, Ncube said the local currency component of civil servants’ salaries will be paid electronically in ZiG, but they will not be able to withdraw the physical cash until the end of the month. Said Ncube, as quoted by HarareLive:
He is under the impression that ZiG will only begin to work at the end of the month, the 30th of April and yet civil servants will start receiving salaries from the middle of the month, about the 18th of April.
I’m happy to say that his understanding is incorrect. ZiG is already effective and civil servants will be able to receive their salaries on time on the 18th of April.
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What the Reserve Bank mentioned was the issue of the availability of hard cash being available slightly later at least by the 30th of April that’s the issue.
But in terms of electronic payments into their accounts, civil servants will be able to receive these by the 18th of April. Anytime because ZiG is already operational.
Some economists have described the move by the Reserve Bank of Zimbabwe (RBZ) to announce the introduction of a new currency without making the notes and coins readily available as foolish.
This has presented traders, service providers and consumers with new challenges as Zim dollar notes are now being rejected.
This has made it difficult to buy and sell products that cost less than US$1, which is now the lowest denomination in most parts of the country.
More: Pindula News
