CCZ blasts manufacturers
THE manufacturing sector has let consumers down by failing to produce enough for the domestic market despite enjoying protection from competition in the last few years, the Consumer Council of Zimbabwe (CCZ) has said.
In a recent interview in Plumtree, CCZ executive director, Ms Rosemary Siyachitema, said manufacturers have taken long to increase capacity in order to meet local demand for goods and services.
“They have been talking of recapitalisation since the time of former Reserve Bank of Zimbabwe Dr Gideon Gono. How long does it take to recapitalise and start producing? Now they have changed the phrase and are talking of retooling but nothing is being produced. It’s not fair to the consumers in this country who have been suffering for long,” said Ms Siyachitema.
Industrialists on one hand have blamed lack of foreign currency and obsolete machinery for subdued capacity utilisation, which has been hovering below 50 percent since dollarisation in 2009.
Ms Siyachitema also challenged farmers to work hard and produce enough for the country so as to cut imports which continue draining foreign currency earnings.
“At the moment 90 percent of soya bean is being imported from South Africa, which is not healthy for the economy. At least we should be importing only 30 percent and that makes sense,” said the CCZ boss.
She welcomed the lifting of the ban on selected imported basic commodities by Government saying this will ease the burden on consumers who are being ripped off by retailers charging exorbitant prices.
“We hope those with free funds will bring basic commodities into the country at affordable prices. We are also pushing for the operationalisation of the Consumer Protection Act to protect consumers. Once it’s operationalised we can be able to prosecute those breaking the law. Retailers have been using a three tier pricing system for the past three years but nothing has been done about it. It is abnormal,” said Ms Siyachitema.
Recently Cabinet approved principles of the Consumer Protection Bill, which will be tabled before Parliament soon. The proposed law, which has been in the pipeline for some time, is expected to give biting powers to the CCZ, which has largely been viewed as a toothless dog. — @ richardmuponde
“We are also targeting the re-opening of the Cold Storage Company, and Mashava Mine as well as investment of a minihydropower generation at Tugwi-Mukosi Dam, Manyuchi and Lake Mutirikwi,” he said.
The conference was attended by chief executives from all seven Rural District Councils, farmers, captains of industry, academics, provincial departmental heads, among others. — @walterbmswazie2 lending thus ordinarily will despise non performance on debt.
What debt denotes Debt meaning is a way of subjective interpretation. Here we are not touching on good debt as explained in the article good debt bad debt. Debt overhang has that I don’t care attitude of someone that is being irresponsible or does not care anymore. Mostly this attitude is exhibited because there are consequences to having unserviced debt.
It can also be a sign that one has turned rogue and no longer fear repercussions that might follow. It is also telling of a deeper underlying structural economic challenges that are affecting the capacity to settle outstanding debts.
It is also a culture trait of just owing without doing justice to the financial obligation that will be accruing. Is it not time we kill criminalist debt to bring us into the right framework to stabilise our country.
Government debt Given that the Central Bank has the legal instrument to adhere to and manage Government borrowings any shortcomings have to be criminalised. The guidelines are there. Thus, any wilful violations have to be dealt with decisively.
Unknowingly, violating the said Act will need remedy within the shortest possible timeline otherwise it has to be treated as wilful violation without any serious repercussions to send the right message.
These debts are bringing long suffering to our populace. The same principle should be practiced across the board. In other words, all governance issues should be criminalised and dealt with in accordance with the provisions of the law.
Blacklisting It will be in the best interest of the country for blacklisting as a guiding principle behind clearance for job seeking, bank accounts opening, funding requests and seeking credit and even for international relocation.
To enforce integrity the checking of blacklisted individuals should be ongoing to gauge going suitability of employees especially those mandated to hold in trust other people’s assets.
Blacklisting shouldn’t just be for individuals but even corporate bodies, local government and even parastatals. The need for credit rating across the board is a must if we are to turn around the economy.