Mugabe wants more control
2004-09-16 09:25
Harare - Zimbabwe's President Robert Mugabe on Wednesday said his government will soon move on to control the manufacturing sector a day after announcing the state would demand half-ownership of the country's mines.
"We want to control the mining sector, we want to control the manufacturing sector," Mugabe was quoted as saying by state television.
Zimbabwe's manufacturing sector, which had previously contributed significantly to the gross national output, export earnings and employment, has in recent years shrunk due to galloping inflation, shortages foreign exchange, electricity and at times fuel.
The manufacturing sector has recorded falling turnovers alongside the mining and agriculture sectors.
Owning natural resources
The Confederation of Zimbabwe industries reported last year that in real terms investment in the sector had dropped by more than half in 2002 compared to the previous year, with several firms closing shop and many jobs lost.
Mugabe, whose government has controversially taken over thousands of white-owned farms in the past four years for redistribution to new black farmers, on Monday said Zimbabweans did not yet enjoy "absolute ownership" of natural resources.
"We are going to demand that government be given 50% shares in the mines," he was quoted by a state daily. - AFP
- SAPA