Govt Moves to Avert Price Hikes

by | May 10, 2023 | Business, Crime & Courts, Local News | 0 comments

Govt Moves to Avert Price Hikes
Mako Jerera
The government is engaging different industry stakeholders to develop lasting solutions to the price madness currently being experienced in the country.
Cabinet on Tuesday said they are working on measures to protect consumers and avert price hikes.
There has been a significant increase in the prices of basic such as mealie-meal, sugar, bread, and cooking oil, among others.
Prices in hard currency have remained relatively stable.
Speaking during the post-cabinet media briefing yesterday, Information, Publicity and Broadcasting Services Minister Senator Monica Mutsvangwa said the government is looking at establishing a committee to look into the rise of prices of basic commodities.
“The nation is being informed that Cabinet is concerned by the spiralling prices of the 14 basic goods, especially bread, flour, cooking oil and mealie-meal.
“The Minister of Industry and Commerce is already engaging the concerned stakeholders including manufacturers, wholesalers, retailers and other associations on the matter,” she said.
She said Cabinet has since set up a committee to investigate, monitor and make appropriate recommendations to Cabinet with a view to bringing sanity to the situation.
“The Committee will comprise the following Ministers: Industry and Commerce; Finance and Economic Development; and Information Communication Technology, Postal and Courier Services. Meanwhile, the Minister of Industry and Commerce will issue an appropriate statement on the matter,” she said.
Industry and Commerce Minister Dr Sekai Nzenza said the Government should not be the only entity to offer solutions.
“Cabinet met and observed with deep concern the artificial shortages and recent increase in the prices of basic commodities.
“These prices have a negative impact on consumer welfare and the economy. Government has therefore opened up its doors for continuous dialogue with manufacturers and retailers who are the key players in supplying locally produced goods in the market,” she said.
Minister Nzenza said the committee will investigate, monitor and make recommendations with regard to the price hikes.