Government requires $85 million for the referendum to be held on Saturday 16 March while another $130 will be needed for elections to be held in July.
Speaking today at a press conference on Monday in Harare, Finance Minister, Tendai Biti, said ground had been covered for the holding of a successful referendum but funding for elections was still a nightmare.
“ We have not been able to raise the required $85 million for the referendum but have only availed $31,5 million which will cover the referendum on Saturday.
“We still think the total amount required is excessive and we are going to streamline the budget. Allowances for the people who will be manning the referendum are not yet available,” said Biti.
$2 million will be spent on indelible ink, printing of ballot paper and voter education pamphlets while $2,5 million will go towards voter education.
Referendum materials will claim $3,5million and $3 million will be for
vehicle hire while $500,000 will be for training.
$5million will support ZRP deployment while an extra $15 million will meet unspecified needs.
Biti said government had issued 365-day Treasury Bills to NSSA and Old Mutual at a negotiated coupon rate of 7percent to raise the outstanding $40 million for the referendum.
He said the intervention of the international community was critical as the country had no capacity to raise the required amount.
“We are relieved that President Robert Mugabe approved the United Nations channel of seeking election funding. The President last Thursday gave us the green light to allow UN officials to come and assess the financial needs of Zimbabwe.
“We however expect mining companies to submit what they owe in respect of their 2012 debts to complement our election budget,” he said.
He has repeatedly complained that diamond mines were remitting money to Treasury.
Last month government appealed for election funding from the UNDP which in turn indicated that it would assess Zimbabwe’s financial needs before availing the money.
Post published in: News
where will they get the balance, these people are confused and they are wasting resources