Chronicle Editor
Rampant indiscipline is back in the market place and there is therefore an urgent need to protect the consumers from unscrupulous businesses that are taking advantage of the situation to profiteer.
Businesses have once again adopted a speculative pricing system and as such the prices of most basic commodities are now beyond the reach of many consumers.
There is a need to act now as most workers’ salaries have been eroded as prices are now based on the parallel market exchange rates.
In many retail outlets, consumers are limited to just one item per product if they buy using the local currency, ZiG, but are free to buy as many if they use foreign currency.
Many workers including civil servants are paid the bulk of their salaries in local currency and are therefore being forced to buy forex on the black market to enable them to buy the products they want.
What is disturbing is that retailers are increasing prices even in United States Dollar to avoid being punished for using the unofficial exchange rate.
The trend of adjusting prices daily is back and consumers cannot survive this onslaught hence urgent measures should be taken to protect them. The ZiG is under threat and unless measures are put in place to protect it, the majority of consumers will suffer.
Government had managed to remove illegal foreign dealers from the streets but they are now back in full force operating underground. Their modus operandi is now very difficult to detect hence police and other law enforcement agents cannot arrest them. President Mnangagwa said Government was moving in to protect ordinary Zimbabweans from those who thrive on greed and profiteering.
Addressing the 378th Ordinary Session of the Zanu-PF Politburo on Wednesday, President Mnangagwa said attacks on the economy to make ordinary people suffer were unacceptable.
“Acts of economic sabotage, speculative and counter-productive tendencies by those who thrive on greed and profiteering have no place in our country,” said President Mnangagwa.
The use of local currency had impacted positively on the economy as evidenced by the revival of a number of companies and the increase in productivity. The use of local currency also improves the competitiveness of goods produced by local companies hence the need to support its use.
The Reserve Bank of Zimbabwe’s Financial Intelligence Unit (FIU) should once again be on the ground to whip into line producers and retailers refusing local currency. Government should use the instruments at its disposal to rein in errant businesses that are sabotaging the economy in order to profiteer.
There is a need for Government to send a loud and clear message that unethical business conduct has no place in Zimbabwe. This price hike madness must be stopped immediately.
Online Reporter