Zim Govt Warns Merchants Of Unjust Price Hikes
THE Government is enforcing penalties against all perpetrators of unjust price hikes, manipulation of the ZiG currency, smuggling and all forms of unfair trade practices, a Cabinet Minister has said.
The Government has also said the fines for such malpractices will also be reviewed.
Speaking during a post-Cabinet briefing, Information, Publicity and Broadcasting Services Minister, Dr Jenfan Muswere said, the Cabinet considered the report on basic commodities prices and availability and issues constraining the local industry.
“Cabinet also noted that there is a proliferation of smuggled and counterfeit goods that are unfairly competing with local products since they are not subjected to taxation and import duty.
“Government, going forward, will increase border patrols, increase the number of inspectors and implement a Wholeof-Government Approach to deal with the menace at border posts.
“Penalties are being enforced against all perpetrators of unjust price hikes, manipulation of the ZiG currency, smuggling, and all forms of unfair trade practices.
“Government is also going to review the fines from a minimum of US$200 Level 5 to a maximum of US$5 000 Level 14 or the ZiG equivalent for the various offences.
“Cabinet noted that some retailers and some manufacturers have been reportedly using the unofficial exchange rate in their operations.
“In order to promote the uptake of plastic money, the Reserve Bank of Zimbabwe will strengthen the mandatory licensing requirements for all business operators to have a bank account and Point Of Sale (POS) machine under the Shop and Shop Licensing Act, and deploy inspectors to curb misdemeanors that militate against price stability and availability of basic commodities.”
Dr Muswere said Cabinet noted that there is a significant amount of idle unutilised and abandoned industrial space.
“An Inter-Ministerial Task Force will be established to focus on co-ordinating the identification of idle and abandoned industrial infrastructure spaces.”
