Govt urged to restore retail confidence
RETAILERS in Manicaland have urged Government to initiate dynamic programmes to restore confidence in the financial sector, as cheap imports continue to suffocate the industry.
Speaking during a retailers and wholesalers awards ceremony held in Mutare last Friday, Confederation of Zimbabwe Retailers (CZR) president, Mr Denford Mutashu, said smuggling of goods into the country was working against the goals of Government to promote local value addition and creation of jobs.
“The country’s porous borders continue to undermine industry growth as well as tariff protection efforts.
“The local market continues to be proliferated by cheap imports, which are smuggled into the country including those that are under import management, while local industry is collapsing.
“We highly recommend that Government urgently establish a joint working committee to investigate smuggling at the ports of entry and illegal crossing points so that decisive action can be taken once and for all,” he said.
He called on Government to initiate a dynamic programme to restore confidence in the financial sector accompanied by fiscal prudence to avoid the creation of excessive reliance on electronic money.
“The welfare of the population of Zimbabwe depends on the affordability of basic goods whose prices have of late been distorted due to market jittery.
“This is why we call upon Government to be vigilant and take careful measures that regenerate confidence while ensuring that market fundamentals are not distorted,” said Mr Mutashu.
He said the informalisation of the economy was also heavily costing the retail industry as well as Government in the form of revenue loss and commended Government’s efforts to deal with vending challenges.
“As retailers we commend the current efforts by Government to deal with vending challenges and also encourage the streamlining and simplifying of the adopted solutions to encourage those in the informal sector to formalise their operations,” he said.