Government investigates prices

GOVERNMENT is in the process of conducting evidence-based research with the ultimate goal of ensuring that consumers continue to access basic commodities at affordable prices.

The research to be carried out by the Ministry of Industry and Commerce will be conducted in collaboration with the National Competitiveness Commission, Competition and Tariff Commission and the Consumer Protection Commission and all other relevant stakeholders.

In her post-Cabinet report last night, Minister of Information, Publicity and Broadcasting Services, Monica Mutsvangwa said Cabinet noted that consumers are being forced to buy goods that they don’t need in formal retail outlets when they pay using United States dollars so that they may offset the change balance. This is because the retail outlets, said Min Mutsvangwa are refusing to mix USD and Zimbabwe dollars.

She said from the survey undertaken, most basic commodities are generally available both in formal and informal retail shops, although there are artificial shortages observed of some locally produced goods, especially in formal retail shops adding that prices in the formal retail sector are relatively high in both USD and ZWL terms when compared to the informal retail sector and are thus indicative of speculative and forward pricing.

“The Ministry of Industry and Commerce is preparing to conduct an evidence-based research within seven days in collaboration with the National Competitiveness Commission, Competition and Tariff Commission and the Consumer Protection Commission and all other relevant stakeholders with the ultimate goal of ensuring that consumers continue to access basic commodities at affordable prices,” said the Minister.

“The Ministry will expedite the amendment of the Competition and Tariff Act and the drafting of the Consumer Protection Regulations in order to come up with enforcement mechanisms to address the unfair business practices in the economy.”

She said import duty on the 14 basic commodities will remain suspended for six months in order to ensure their availability at competitive prices.

Regarding the staple maize meal, Minister Mutsvangwa said the nation is being assured that Silo Food Industries will be producing and selling mealie-meal at affordable prices, in Grain Marketing Board (GMB) shops across the country.

“In an endeavour to address the challenges cited in this update, the nation is being assured that the Quality Assurance and Trade Measures Department in the Ministry of Industry and Commerce is conducting an enforcement blitz on the quality and measurements of basic commodities and issuing appropriate fines. The Consumer Protection Commission is creating a hotline that will receive and respond to complaints from consumers to mitigate against unfair trading practices in the market,” said Minister Mutsvangwa. —chronicle.cl.zw