... but it could be against the law, writes Martin Rushmere
TRANSPORTERS TRYING to digest the effects
of the latest foreign
currency squeezes are protesting about a plan by the National Railways
of Zimbabwe to make exporters pay railage fees in hard currency.
A statement from the railway network says that because currency is so hard to get, exporters should be targeted "as they have unlimited access to currency."
Understandably this has not gone down well with anyone. "In effect the NRZ is admitting that the local currency is worthless," said one shipping head, "which does not inspire confidence in the future."
But what makes everyone so angry is that the NRZ seems to be unaware that 40% of export earnings have to be paid to the Reserve Bank.
There is a strong possibility that the parastatal will be stopped in its tracks because the Reserve Bank has said the proposal is against the law.
Meetings are being held with the Reserve Bank to sort out the matter.
