Polye demands truth about foreign reserves

Opposition Leader Don Polye on Wednesday questioned Finance Minister James Marape over a backlog of orders from businesses to buy foreign currency for trade.

 Polye claims the back log is about K2 billion.

He has queried Mr Marape whether the government had any corrective measures to ease the bottleneck to continuously spin the wheels of the business activities in the country.

His final question was why the local currency was continuing to devalue  against the US dollar since 2013.

In response Marape said the trade (export and import) cover would be K5.7 billion at the end of this year.

He said the government will get the Central Bank to make a statement on the number of backlogged orders and the exact amount of foreign reserves available. 

Author: 
Joy Kisselpar