Government moves to rescue consumers from greedy local businesses 

Government moves to rescue consumers from greedy local businesses

Staff Writer

Government has responded to the lack of good faith by local businesses through reducing some of the protectionist measures which had been adopted to protect industry.

After Government adopted laws to make it difficult to import finished goods in Zimbabwe, as it would translate to exporting jobs, businesses are now holding the local market to ransom through incessant price increases.

It has also emerged that some corporate players have been significantly participating in parallel rate activities.

Prices of basic commodities have been on an upward spiral and authorities argue that although there have been inflationary pressures due to global geopolitics, the rate at which the prices have been going up is unjustified.

In a statement released on Saturday evening, Finance and Economic Development Minister Professor Mthuli Ncube said as they work on measures to stabilise the market, they are opening a window for citizens to have more options.

“To further ensure that citizens have access to affordable basic commodities, in the face of recent substantial price increase in the shops, the government hereby opens up imports of basic commodities by citizens, through lowering of import tariffs and other accompanying measures. This is with immediate effect,” Professor Ncube said.

These measures kick in with immediate effect.

“Those with free funds are permitted to make use of these funds and other resources to import basic commodities,” Minister Ncube said.

The Finance Ministry has also approved incentives for maize farmers, in a move set to minimise incidences of side marketing.

“In the quest to incentivise farmer and encourage early deliveries of maize and other grains to the Grain Marketing Board, government has taken the decision to pay the maize farmers 30 percent of the amount due on grain delivered in United States dollars and 70 percent in domestic Zimbabwe dollars. The USD payment will be calculated at the willing buyer willing seller rate published by the Reserve Bank of Zimbabwe on the date of delivery. The payments will also be backdated to the date of the first deliveries of this season`s maize to GMB,” said Minister Ncube.