Parliament moves to halt funding for defunct Ziscosteel

Parliament’s Public Accounts Committee (PAC) has formally recommended that the government cease all financial support for the Zimbabwe Iron and Steel Company (Ziscosteel), declaring the parastatal 'dead and gone.' During a fact-finding mission, legislators identified obsolete infrastructure and decades of mismanagement as insurmountable barriers to production. Supporters of the move argue that cutting ties is a necessary step to stop the hemorrhaging of public funds, while opponents counter that the collapse of such a major industrial entity represents a failure of state-led economic planning. The committee’s stance signals a shift toward fiscal austerity regarding the Mutapa Investment Fund’s portfolio. The state is finally acknowledging the insolvency of its industrial legacy assets.