President slams Innscor pricing system

PRESIDENT Mnangagwa yesterday singled out diversified conglomerate Innscor as one of the businesses that have been unjustifiably raising prices of basic commodities such as bread leading to the suffering of ordinary people.

Addressing thousands of people that included Zanu PF supporters during an event to commission Chivhu Dam, President Mnangagwa said Government will support the food production value chain through establishment of rural industrial centres to deal with unscrupulous businesses that were ripping off consumers such as Innscor.

“Tanga tiine mhesva mukono inonzi Innscor who were constantly hiking price of basic commodities. Now as we plan we need to set up rural industrial centres here. If people grow maize and wheat, we will install a plant that will mill maize meal and produce flour and sell at cheaper prices.

“When Innscor trucks come with their bread, they will find no taker. This is because we will be self-sufficient in terms of everything that you might want that include bread, maize, fish, water including a caring party Zanu PF,” said President Mnangagwa.

He said people should strive to produce at least 10 tonnes of wheat per hectare so as to maintain food self-sufficiency.

President Mnangagwa said with the country attaining self-sufficiency, days of unscrupulous business are numbered.

Businesses have in the past few weeks been hiking prices of basic commodities, a development that has caused untold suffering to ordinary people.

Some have been charging exclusively in United States dollars while others have indexed their prices to black market foreign exchange rates.

This is despite the fact that some of them were accessing cheaper foreign currency at the Reserve Bank of Zimbabwe spearheaded auction market.

The unjustified price increases have seen the erosion of many people’s earnings.

President Mnangagwa has in recent weeks warned business against unjustified price hikes saying the Government would not fold its arms and watch.-herald