Zim engineering sector operating below 20% capacity
Published: 2013 January 31 13:41:13 (3495 Views)
The Engineering Iron and Steel Association of Zimbabwe (EISAZ) says more than eight firms have closed operations during the past two years because of viability constraints.
EISAZ President, Mr Callisto Jokonya said non-performance of other sectors of the economy has hit hard on the engineering industry, which has seen over eight firms closing operations.
'We have more than eight companies that have shut down, owing to a number of challenges prevailing in the economy. The sector is a supportive industry to other sectors and the resuscitation of big engineering firms will be critical to the growth of the economy,' he said.
Failure by government to implement the NewZim Steel deal is one of the constraints that the industry is facing as it is the key stakeholder in value-addition within the sector.
The engineering sector is operating below 20% capacity, providing the economy with only 30 000 jobs.
At its peak, the sector employed over 100 000 workers.
- ZBC
EISAZ President, Mr Callisto Jokonya said non-performance of other sectors of the economy has hit hard on the engineering industry, which has seen over eight firms closing operations.
'We have more than eight companies that have shut down, owing to a number of challenges prevailing in the economy. The sector is a supportive industry to other sectors and the resuscitation of big engineering firms will be critical to the growth of the economy,' he said.
Failure by government to implement the NewZim Steel deal is one of the constraints that the industry is facing as it is the key stakeholder in value-addition within the sector.
The engineering sector is operating below 20% capacity, providing the economy with only 30 000 jobs.
At its peak, the sector employed over 100 000 workers.
- ZBC
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