Fuel Levy Reduced, Mutli-Currency System To Remain: Mthuli Ncube

Minister of Finance and Economic Development Professor Mthuli Ncube has announced measures deemed necessary to stabilise the exchange rate and control the inflation rate which has reached the 191.6% mark.

In his address to the nation through a press conference Monday morning, Prof. Ncube said the multi-currency system will remain in place while fuel levy on diesel has been removed.

Levy on petrol has also been reduced to prevent fuel prices reaching the US$2 per litre mark.

Prof. Ncube also revealed measures being implemented to address the Civil Service remuneration framework following the recent strike by doctors, nurses and teachers.

The measures are as follows:

-The multi-currency system will be legislated into law.
-the US$ will be legal tender in Zimbabwe for the duration of the NDS1.
-legislating the Interbank Exchange Rate into Law
-levy on diesel has been removed while that on petrol has been significantly dropped

Civil Service
-100 % salary increment effective July 2022
– Parliamentarians’ salaries and allowances have also been increased by 100%
-Introduction of a Constituency visit allowance for MPs.
-The US$75 Covid-19 and US$100 cushioning allowance for civil servants will remain.

Non-Monetary Benefits That Include:
-provision of transport facilities
-Housing loan scheme
-Civil Servant loan scheme
-access to duty free imported motor vehicle for personal use
-MPs will also import their second cars duty-free.

Health Sector:
-Institutional housing for workers
-re-operationalisation of the cafeteria system
-A review of on-call allowances, standby and call-out allowances with immediate effect,
-nurse managers allowances,
-special health equalisation factor,
-infectious disease risk allowance.

-Introduction of performance awards for teachers effective July 1, 2022
-payment of school fees for 3 biological children per teacher.
-provision of 34 000 housing units for teachers in the next 5 years.

Post published in: Business

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