PROCUREMENT of imported raw materials and capital equipment has become a nightmare for most companies as the Reserve Bank of Zimbabwe (RBZ) battles long foreign payment queues, an official has said.

Zimbabwe Revenue Authority (Zimra) board chair Mrs Willia Bonyongwe revealed this yesterday in the tax authority’s revenue performance report for the first quarter ended 31 March 2017.

She acknowledged the difficult macro-economic environment that has seen industry operations being hampered by delays in foreign payments due to the tight liquidity situation in the economy and biting cash shortages.

The beginning of the tobacco marketing season mid-last month as well as the implementation of Statutory Instrument 64 of 2016, which restricts importation of locally manufactured products, have not eased the crisis as much as anticipated, despite improvement in product quality and volume of sales, she aid.