Government has set aside over $600 million to cover one million vulnerable households under a cash transfer programme for the next three months, to mitigate the impact of Covid-19, which has seen Government ordering a 21-day total lockdown to contain its spread.
In a statement seen by Great Dyke News 24, Finance and Economic Development Minister Professor Mthuli Ncube said treasury will be availing an amount of $200 million per month under a cash transfer programme over the next three months.
“Vulnerable groups in our society are the most exposed under this Covid-19 crisis,” he said. “Accordingly, Treasury has set aside resources to cover one million vulnerable households under a cash transfer programme and payment will commence immediately.
“Treasury will initially be availing an amount of $200 million per month under a cash transfer programme over the next three months and both the amount and duration of payments will be reviewed as necessary. The Social Welfare Department will use its usual mechanisms to identify the beneficiaries.”
Further, the 2 percent intermediated money transfer tax (IMTT), which is ring-fenced for social protection and capital development projects, will be channelled towards Covid-19 related mitigatory expenditures.
Prof Ncube added that Treasury will ensure that Zimra expedites processes on refunds and requests for extension of the time period within which tax is payable without accruing interest and penalties for companies that shall experience Covid-19 related cash-flow challenges.
