Business as usual in Bulawayo
BUSINESS operations remain normal in Bulawayo despite false social media reports that prompted panic buying of basic commodities in some parts of the country at the weekend.
Some small businesses had rushed to increase prices of goods on the back of unfounded social media reports that claimed imminent shortages of commodities.
However, Bulawayo remained calm and businesses continued as usual. A snap survey carried by Business Chronicle revealed that although prices of basic commodities have increased slightly, major consumer goods were adequately stocked with trading remaining normal.
Mr Mugaga said authorities should not introduce any measures into the system to control the artificial shortages or price increases saying doing so would worsen the situation and trigger unjustified price hikes.
“We don’t expect authorities to put any control measures because at the moment the market is moving alone and the moment
Most leading retail shops and wholesalers in the city were conducting their business as usual and dismissed allegations of massive panic buying.
“We are still conducting our business as usual. As you can see people are buying just like any other days.
“There is no panic buying and we did not experience one. People should just stop spreading unnecessary rumours and let the relevant authorities deal with the economic aspects,” said an official from one of the supermarkets.
Another official from a major wholesaler expressed disappointment on the potential negative impact of false social media reports on the economy.
“It is quite disappointing to note that people spread lies about panic buying. Yes there might be some cash challenges being
you put controls, it worsens the situation. Government at the moment does not have a role in threatening the unjustified price increases and once it says don’t increase prices, it will spread even worse,” he said, adding that Zimbabwe was still using a multicurrency regime and thus prices would remain stable.
The Government has also issued a warning experienced but the issue to do with panic buying, shortage of basic commodities and skyrocketing of commodity prices is a lie. We must not put consumers’ lives under threat,” said the official.
The Confederation of Zimbabwe Retailers (CZR) has said the retail sector was committed to providing enough goods and services to the country.
“Those WhatsApp messages are malicious; there is no need to cause people to panic. The retail sector is committed to providing enough goods and services to the country and there is sufficient availability of basic commodities.
“We know there are challenges in regard to the supply side and we have engaged the relevant authorities of the clearance of foreign payments,” said CZR president, Mr Denford Mutashu.
to peddlers of such speculative reports and assured the country that the economy was on a stable footing and actually poised for growth on the back of improved agriculture, mining and tourism productivity.
Mr Mugaga said there was no way the country could have price hikes as present drivers of inflation were not necessarily the fundamentals.