Cabinet approves bill for immediate medical, funeral cover to accident victims

Highlights from the 15th post Cabinet briefing.

-Cabinet received and approved the principles of the Road Accident Fund bill, which seeks to reduce deaths and injuries from road traffic accidents by 2030.

-The fund will provide immediate recourse to medical and funeral expenses and enhance the capacity of emergency services providers and medical institutions to effectively respond to road accidents to save lives.

-It will be funded from motor vehicle insurance premiums and any other such funds appropriated by treasury.

Cabinet also received an update on the implementation of the Zimbabwe Industrial Reconstruction and Growth plan, which looks at the pharmaceutical value chain.

-Capacity utilization has risen significantly from 12% in 2020 to 51% in 2024.

-Since 2020, the local pharmaceutical value chain has experienced tremendous growth with the percentage of locally produced essential medicines increasing from 15% to 36%.
-Increase in the total number of producers from 9 to 14.
-Pharmaceutical exports reached US$5.2 million last year.
-A pharmaceutical revolving fund will be established to provide affordable financing for the industry.
-VAT zero-rating on pharmaceutical products will be reinstated.

The sugar tax will also be prioritized to enhance financial support for the manufacturing of essential drugs.