Artuz fears salary erosion amid new currency intro...

Artuz fears salary erosion amid new currency introduction

Audrey Galawu

The Amalgamated Rural Teachers Union of Zimbabwe has pointed out that the union is worried of further having their earnings eroded following the introduction of the gold-backed ZiG currency.

In a statement, Artuz said their salaries are already “meagre”, and are concerned that their investments and savings might be degraded or lost.

The union therefore, is demanding that all salaries of government workers be pegged to the US dollar.

“All facets of the economy have dollarised and keeping a façade of local currency whose value is not certain, as a component of remuneration for civil servants is hypocritical. The introduction of a new currency should be done where the value of earnings is not in dispute and the exchange into another currency fluid.

“Whilst we acknowledge the need for a strong local currency for macroeconomic development, we express serious concern over the lack of integrity in the operations of the Reserve Bank of Zimbabwe, the Ministry of Finance, Economic Development and Investment Promotion and the government of Zimbabwe. As a teacher trade union, we represent a sector that relies solely on monetary transactions and any hiccups in the administration of money is a direct attack on the livelihoods of teachers and other workers in general.

“Our worries over the announced changes in the monetary regimes used in the country are not without cause or justification. Workers, like other users of monetary transactions in the country, have the most horrific historical experiences of livelihoods, savings, and investments, lost in a flash when such monetary changes were made and of dubious value accredited to a worthless currency.

“Most government workers including teachers are putting their money in social investments such as purchasing and developing residential stands, poultry and goat farming, as a survival tactic in the harsh economic conditions, and all these have monetary value pegged in US dollars, as a store of value,” Artuz demanded.

The union has also criticised government for failing to consult with key stakeholders before introducing the new currency, which the union described as an ambush.

Artuz said the legal tender denotes that a legal process must accompany the promulgation of a currency that comes into effect.

“Our research on the matter has revealed that neither the parliament of Zimbabwe nor the Senate had an opportunity of being informed, to contribute, or discuss the introduction of the new currency and its socioeconomic impact, and the law accompanying.

“The citizens of Zimbabwe, woke up to the announcement in the press of a development which significantly affects their lives, without the benefit of sufficient notice and consultation.

“As a Union, we maintain that citizens remain the repository of solutions to the challenges affecting their lives, in their diversity. We demand that sufficient consultations be done and room be given for submissions on the matter,” Artuz further said.