THE Central Mechanical and Equipment Department (CMED) says it plans to introduce interest rates for clients who delay payments starting next year.
This comes as the state enterprise has faced financial difficulties due to delayed payments from government ministries and departments.
“To mitigate against that, we will be asking for shareholder consent to reciprocate what we are getting from ZIMRA by initiating interest components as per the Reserve Bank of Zimbabwe overnight rates for our clients,” said CMED managing director, Davison Mhaka.