Renowned human rights lawyer Obey Shava has hauled President Emmerson Mnangagwa and Finance & Economic Development Minister Mthuli Ncube to court seeking an order declaring Statutory Instrument (SI 127) of 2021 as unconstitutional and for it to be set aside.
Shava is represented by Tonderai Bhatasara of the Zimbabwe Lawyers for Human Rights. The government gazetted SI 127 of 2021 which, among other things amended the Exchange Control Act, but the applicant is challenging its constitutionality.
This comes at a time when the Confederation of Zimbabwe Industries (CZI) has said the new forex regulation brought by the SI 127 has spooked the market and triggered a shocking round of price hikes, and advised the government to suspend it immediately.
CZI also called on the government to first consult the business sector before taking such actions with far reaching implications on the economy.
However, Presidential Spokesperson, George Charamba blasted CZI for imploring the government to suspend it and for urging the state to consult stakeholders before implementing such instruments.
According market watchers, the introduction of SI 127 of 2021 has triggered price hikes and huge distortions in the market. Prices have escalated and are out of reach for the common person.
Commenting on the SI, former Minister of Finance, Tendai Biti, who is regarded as has had been one of the best finance ministers in Africa, says the President Mnangagwa led regime has jumped from the pan into the fire.
“In May 2016 the regime (through RBZ/ Finance Ministry) introduced Bond Notes & immediately killed multiple currency regime. In February 2019 it introduced SI 33 & killed wages, savings & pensions.
“In May 2021 it (through Minister of Finance Mthuli Ncube) has introduced S1 127 of 2021 & effectively killed what remained of the Economy. He is the face of disaster!” says Biti.
-Zwnews
