adminZimbabweans’ appetite for things foreign shows no sign of receding. The tough economic conditions that blighted our industry’s chances of sustainable production largely due to economic sanctions imposed by the West saw many of our companies closing down or scaling down production as the costs of production continued to rise.
Imported goods then found a ready market in the country, especially food products at the height of shortages due to the collapse of much of the food industry that was worsened by price controls to stem runaway inflation.
It would seem the appetite that was created during those difficult years has become difficult to shake off with consumers still showing a preference for foreign products, especially those priced below our own.
While we do not advocate downright protectionism for the survival of our industries, we believe some form of protection is justified for fragile sectors rendered uncompetitive by our unique economic circumstances and also to arrest the foreign currency haemorrhaging of the local economy.
Weekend reports show that Zimbabweans spent $13 million on imported hair products in the 19 months up to July this year, during a period that local companies have been failing to access much less to keep their businesses afloat across many sectors.
Elsewhere in this edition we also carry reports that the country spends $4 million monthly on the importation of cooking oil, a product that is manufactured locally though there are minor price differences associated with higher production costs locally.
We welcome interventions in the mid-term fiscal policy review of increasing duties in order to discourage unnecessary imports. We have heard murmurs of discontentment regarding our penchant for imports with Government having raised the red flag even over used car imports that continue to gobble up a lot of money hence raising our import bill at a time our exports have not shown much improvement.
We believe the Buy Zimbabwe campaign should be everybody’s responsibility so that we can get our industry back on its feet again in the shortest possible time. It is crucial for Zimbabweans to realise that the more foreign products they buy, the more support they offer to foreign firms at the expense of local industry.
A gradual shift in attitudes towards local products is needed especially since our products compare and compete favourably with foreign products. Also worrying are reports that despite the Government’s good intentions of increasing selected duties to protect local industry, many foreign products still find their way into the country illegally.
Chiefs are reported elsewhere in this issue lamenting the impact of poultry products imports on local production. We implore those that man our borders to be meticulous in their work so that we reduce cases of smuggling that also delay the recovery of our industries, hence delaying employment opportunities for our people.
While the Government is playing its part in ensuring the survival of local industry, we believe such moves should be supported by a responsible industry that shall not take local consumers for granted by charging impossible prices for their products.
There is a serious need for local industry and commerce to revise their pricing models so that they remain competitive since the use of the stable US dollar and the highly globalised world have made it easier for consumers to compare prices across borders. Consumers are not stupid.
They know where they get value for money. We say this because some companies might take increases in duty on certain products as a passport for them to increase prices unnecessarily under the belief that consumers would have nowhere to run to. If we all behave responsibly, we shall achieve the economic recovery that we all yearn for.
In the meantime, consumers and producers alike, let us think Zimbabwe first and take pride in things Zimbabwean to give impetus to our economic programmes by literally putting our money where our mouths are.
Online Reporter