Zimbabwe’s Treasury only received $19,5 million from diamond revenue during January and February this year against the anticipated $77, 5 million, a minister has said.
Economic Planning and Investment Promotion minister Tapiwa Mashakada was quoted as saying by The Zimbabwean that although he was convinced that the Kimberly Process Certification scheme’s minimum guidelines were being observed in Marange, the source of leakages was at marketing level.
He also said that the government was now expecting $41,5 million from diamond revenues for March.
“The government is expecting to raise about $320 million in revenues during March and diamond revenues are expected to contribute $41.5 million to that,” he told a Harare Chamber of Mines breakfast seminar.
Zimbabwe’s Finance minister Tendai Biti said in his 2012 national budget late last year that diamond sales were expected to contribute $600 million to the fiscus following the certification of Marange diamond sales by the Kimberly Process.
However, there was fear that the poor remittances of diamond revenues would see the country missing this target.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
