Treasury underfunds Industry ministry by ZiG1.5bn

The Industry and Commerce ministry has raised concerns over severe underfunding by Treasury, revealing it received just 28% of the budget required to implement its programmes and capital projects in 2027.

Presenting the ministry’s budget priorities before the Parliamentary Portfolio Committee on Industry and Commerce on Tuesday, Industry Ministry Permanent Secretary Tadeous Chifamba said the ministry requires ZiG2,181,987,757 to fully execute its planned programmes and capital projects.

However, Treasury allocated a ceiling of just ZiG600,245,000, leaving the ministry with a funding shortfall of more than ZiG1.5 billion.

Chifamba said the ministry has faced continued fiscal constraints and delays in the release of appropriated funds, a situation he said contrasted sharply with public expectations.

Despite the funding challenges, Chifamba said the ministry remained central to creating an enabling environment for industry and commerce to thrive, sustainable jobs to be created and Zimbabwe to compete aggressively on regional and global markets.

“This fiscal reality has not deterred us. Rather, it has compelled us to become far more strategic, agile and innovative in pursuit of our industrialization agenda,” he said.

To bridge the funding gap, the ministry said it had prioritised high-impact interventions expected to deliver maximum economic returns for every dollar spent.

Chifamba appealed to the Parliamentary Portfolio Committee, chaired by Zaka South MP Clemence Chiduwa, to use its oversight, legislative influence and advocacy role to lobby Treasury for an increased allocation.

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