Harare — The Parliamentary Portfolio Committee on Industry and Commerce has called for a fundamental shift in Zimbabwe’s fiscal policy, urging Treasury to prioritize economic growth over revenue collection to revitalize the manufacturing sector.

Speaking to journalists at the New Parliament Building in Mt Hampden on Tuesday, Committee Chairperson, Clemence Chiduwa said the committee is lobbying for increased budget allocations for the Ministry of Industry and Commerce following a hearing on budget priorities.

He said this soon after the Pre–Budget Consultative Meetings with the Ministry of Industry and Commerce, Confederation of Zimbabwe Industries (CZI), Zimbabwe National Chamber of Commerce (ZNCC) and Delta Corporation.

“We also got submissions from the stakeholders, from the Confederation of Zimbabwe Retailers. We also got submissions from CZI, ZNCC, Delta,” Chiduwa said.

“What we looked at is how best can we continue with the reforms in terms of the ease of doing business.”

The committee’s focus, Chiduwa explained, is to mobilize resources for funding the budget while simultaneously advocating for taxation policies that stimulate rather than stifle the economy.

“The focus of the committee is let’s generate, mobilize the resources for funding the budget. But in the process, let’s look at taxation which is coming from Treasurer. Let’s tax for growth and not for revenue,” he said.

“At the end of the day for us what we want is to develop the economy, to grow the economy.”

Chiduwa highlighted the critical role of the manufacturing, retail, and wholesale sectors, noting that they collectively contribute approximately 29% of the country’s Gross Domestic Product (GDP).

He emphasized the need to develop the manufacturing sector through value addition, specifically citing strategic minerals such as lithium, platinum, and palladium.

“We are not just looking at value addition, but we are looking at value addition in the manufacturing sector,” he said.

“If we are looking at strategic minerals… we are looking at having the product. Let’s have that product.”

The committee chairperson stated that the findings from the hearing will be compiled into a report. This document will be adopted by the committee and subsequently used to lobby for more resources at the upcoming pre-budget seminar.

“That’s the report which is going to be used by the chairperson at the pre-budget seminar to lobby for more resources and also to guide the policy in terms of how the manufacturing sector should be developed,” Chiduwa said.