BreakingNewsBusinessCurrent NewsNews

Pomona Deal Not Bankable,Harare Incuring exchange Losses: Markham


,Harare North Legislator Rusty Markham has said that the Pomona Waste to Energy Project is not bankable as it does not meet the requirements or have a bankable feasibility study.

The Harare North MP was addressing members of the public who had attended the Residents Associations and CSOs meet the Special Investigations Committee on the Inquiry for the Pomona Waste to Energy Project in Harare today.

“PRAZ and ZIDA recommend a bankable. feasibility study.A bankable feasibility study in basic terms is that you can put it in front of the bank and say this is feasible we want funding, I don’t believe that any document they have or presented is anywhere near a bankable study,”said Makram

The Pomona scandal has generated debate in the country with the public questioning why the government flouted procurement regulations in favor of a deal the will cost the rate payers more at the expense of service delivery.

Geo Pomona Waste Management recently served the Harare City Council with a notice to settle the US$780 000 waste management bill that it is demanding and threatened to suspend services being rendered to the council.

Makram also accused the government of coming up with a contract that is designed to fail so as to cost the rate payers more money as the contract is in us dollars yet the budget allocations are done in Zimdollars.

“This contract is designed to fail .at the beginning of the year the us dollar rate was 200 and the official rate was 85,now the rate is now 3 and half times more so its gonna cost us because our money comes n its going to cost us more to buy the us dollar to pay Geoginix.

My question is why are Geoginix being given a US Dollar contract when our income is in Zimdollars.If they want to do it fairly then our income should be in US dollars and we pay them in US Dollars or if our income is in Zimdollars then we pay them in Zimdollars.Why should the city of Harare take the exchange loss.The loss is chronic and the government keeps doing this to us,”Makram queried

Meanwhile the residents trusts have vowed to resist payment of rates until the Pomona deal is taken off.

Kudzai Madziva

Mnangagwa Congratulates Zimbabwe Moot Court Team

Previous article

Geogenix Serves Harare With Payment Default Notice

Next article

You may also like


Leave a reply

Your email address will not be published.

More in BreakingNews