Sunday, July 22, 2007

Zim fund to take over failed firms

The Zimbabwean government has set up a fund to revive firms shut down because of Harare's blitz to slash rising consumer prices, media reports said Saturday.

The state-run Herald newspaper said the government had set aside 30 billion Zimbabwe dollars (214,000 US dollars) to revive the defunct State Trading Corporation to run firms that have either collapsed or were seized. .....

"I will hate a stage where I will be forced to take over the companies from you, but if you do not co-operate that is what is going to happen and this is the position of government."

Although Mpofu ordered businesses to halve the prices of their goods and services three weeks ago, he said the government is working on a pricing formula to ensure business viability.


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