Business leaders’ ’90-day solution’

iness executives. It proposes to reverse the
country’s economic slide within three months of implementation. The plan suggests foreign currency be used to stabilise the country’s skidding
exchange rate and all pricing misalignments currently prevalent on the market be removed.
The document, a copy of which was seen by Moneyweb, also suggests “a primary budget surplus”, be created.
It was reported that Mugabe was likely to give assent to the proposal by the business leaders because he was evidently feeling the heat in the run-up
to next year’s presidential, local government and parliamentary polls.
“He has no other option except to give the entrepreneurs the nod, Mugabe and his officials within government know that in the past they have tried to
go it alone and this has not worked,” said Pattisani Mkandla, a local political analyst. He added that Mugabe now realises that the solution to
Zimbabwe’s economic downturn lies in the economy, not his “self imposed but ill conceived and badly implemented policies of expediency”.
The entrepreneurs who met Mugabe stressed the importance of the need for the implementation of extraordinary measures and unconventional methods.
“Your Excellency, we… seek your advice and guidance so that we deal with the grave situation out there within the next 90 days. We propose that you
consider setting up a small team of people drawn from government and business to put together and implement a comprehensive emergency package of
measures designed to rescue, stabilise and eventually turn around our economy,” the presentation to Mugabe reads.
The business executives are positive that the implementation of the economic rescue package would significantly reduce the country’s runaway inflation, which at over 5,000 percent is the highest in the world.
They also hope that the plan will help increase capacity utilisation and increase confidence in the economy.
Presented during a four-hour long meeting with the president, the plan proposes the implementation of “a credible, transparent pricing mechanism that ensures both business viability and affordability for consumers for controlled and monitored products through the framework from the social contract”.
The business captains suggested restructuring of the country’s under-performing and undercapitalised public enterprises.
Delta Corporation CEO Joel Mutizwa, Zimbabwe Chamber of Commerce president Marah Hativagone, and the Zimbabwe Confederation of Industries leader Callisto Jokonya are among some of the delegates who were hosted by Mugabe, Moneyweb reported.