The City of Harare says it is owed ZWL149.3 billion as at 31 May 2023 with the debtors figure at USD 57,59 million as at 31 May 2023.
If converted using the prevailing official rate of today it is now USD25,76million and the exchange losses amount to 55,5 percent.
The local authority says if the situation is allowed to persist, service delivery will collapse because the City will not be able to recapitalize and will also fail to pay for goods and services particularly water treatment chemicals and fuel.
The drive to recapitalize operations has since slowed down, adds City of Harare.
Apparently, the government recently barred the local authority from US dollar billing.
Harare City Council says its decision to bill in US dollar was necessitated by the need to preserve value as the City is suffering from massive exchange losses however ratepayers have various payment options available including payment in local ZWL.
Zwnews
