Government will release Treasury Bills (TBs) worth about $600 million to clear debts owed to Zesa Holdings by local authorities and State enterprises . Zesa Holdings through its subsidiary, Zimbabwe Electricity Transmission and Distribution Company has been battling to recover over $1 billion in unpaid power bills.
The release of more TBs comes amid concern that Government continues to add to its stock of debt which could have far-reaching implications to the economy. To date, over $4 billion TBs have been issued for various reasons.
Energy and Power Development Permanent Secretary Partson Mbiriri told the Parliamentary Portfolio Committee on Mines and Energy yesterday that an agreement had been reached with Treasury which will see it settling debts owed to the state power utility.
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