‘RECONSTRUCTION FUND WILL MOTIVATE FDIS’

MBABANE - The E500 million Reconstruction Fund announced by His Majesty King Mswati III three days ago will instill and inspire great confidence within the business community.

That is the feeling of Pakistan Southern Africa Trade Federation for Eswatini President Abutalib Bukhari. The latter expressed pleasure and welcomed the recent reimbursement initiative announced by the king  at Sibaya. “We believe that the looted and damaged businesses reimbursements will instill and inspire great confidence within the business community, local and international,” said Bukhari. Bukhari said the initiative would further motivate foreing direct investments (FDIs). “We kindly ask large businesses and corporations to come forward and assist the government where possible, as such a momentous task will undoubtedly require mass cooperation and aid.

“We as a federation are in total support of this cause and can definitely be expected to put our utmost efforts in ensuring the revitilisation and growth of our economy.  I’d like to think that at the end of the day a prosperous economy will act as the most defining cataylst for solving the majority of problems Eswatini faces today,” he said. Bukhari stressed that it was time for businesses in the country to be motivated not only to return the economy to its previous condition but to enhance and improve it in any way possible. “We as business community are ready to achieve our goal of an economically stable Eswatini and we hope that the government will provide its maximum support as we are truly in dire need as of now. “We are grateful that our request for compensation has met approval,” he said. Bukhari also welcomed the appointment of a new Prime Minister Cleopas Dlamini, expressing hope that his leadership will lead to  a better and prosperous Eswatini.

Meanwhile, the king pledged E500 million on behalf of government for the recovery of businesses that were affected by the recent political unrest. The King said the money would come from the government consolidated fund and would be merely the first contribution towards the reconstruction of businesses that suffered.  The businesses were looted, burnt and vandalised during the riots that were witnessed between June 26 and July 3 this year. Damages to businesses were estimated to be at E3 billion.

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