President warns against overpricing
PRESIDENT Emmerson Mnangagwa has called for increased production and productivity as well as continued improvement in the quality of products, and competitive pricing models. He made these remarks at the 6th edition of Confederation of Zimbabwe Retailers and Wholesalers (CZR) annual awards in a speech read on his behalf by Vice-President Kembo Mohadi early this month.
He also warned businesses in the wholesale and retail sectors against over-charging and making the public suffer.
There has been a public outcry over the pricing models which are beyond the reach of ordinary citizens.
“I call for increased production and productivity as well as continued improvement in the quality of our products, competitive pricing models and eradication of rent-seeking behaviour,” the President said. “Let us restore the dignity of our consumers that have been short-changed for a long time.
“My government reassures you of its commitment to industrialisation, import substitution and a robust export strategy. It is also important that you continue to grow through taking up investment opportunities that lie abound in the retail sector.
“As the private sector, you must continue collaborations with government towards improving economic performance and standards of living. Establish relations with organisations in the global networks in order to attract the much-needed foreign direct investment”.
The President said government recently enacted the Consumer Protection Act to safeguard the public.
Meanwhile, the Confederation of Zimbabwe Retailers (CZR) accused several retail outlets in Bulawayo of violating exchange rate regulations and legal requirements compelling them to display prices of goods in both local and foreign currencies.
This is despite the fact that government in July gazetted Statutory Instrument 185 of 2020, compelling service providers to display, quote and offer prices in both the Zimbabwe dollar and foreign currencies using the ruling exchange rate.
A survey conducted by NewsDay in October in Bulawayo revealed that many shops were not complying with the regulations, with some pegging their exchange rate at US$1:$95, instead of US$1:$81,3.
The survey revealed that some shops were not accepting payment in the local currency.
In a statement at the time CZR president Denford Mutashu said many shops were not complying with the new regulations due to a shortage in fiscalised machines, while some were not compatible with the new regulations. Mutashu said it was critical for the government to address systems and software compatibility.
He said improved availability of fiscalised machines remained critical.
“There is also a need to increase supplies of fiscalised machines. The current number remains few, while those supplying in some instances have failed to avail spare parts for the machines. There has also been concern that the available fiscalised machines are not compatible,” he said.