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Mukudzei Chingwere-Herald Reporter
The Government will dispatch inspectors to shops to enforce compliance with the official exchange rate and intensify border patrols to curb rampant smuggling of substandard and counterfeit goods that have flooded the market and are unfairly competing with local products.
Addressing a post-Cabinet media briefing in Harare on Tuesday, Information, Publicity and Broadcasting Services Minister, Dr Jenfan Muswere, said Cabinet considered the report on basic commodities prices and availability and issues constraining local industry which was presented by Vice President Dr Constantino Chiwenga.
Dr Muswere said Government is targeting unjust price hikes by unscrupulous businesses, manipulation of the local currency, smuggling and all forms of unfair trade practices.
“On modalities to operationalise the ZiG currency as legal tender for use in the economy, a de-dollarisation roadmap is now in place in terms of the presentation with a timeframe by the Minister of Finance, Economic Development and Investment Promotion Professor Mthuli Ncube.
“Cabinet noted that some retailers and some manufacturers have been reportedly using the unofficial exchange rate in their operations,” he said.
To promote the uptake of plastic money, the Reserve Bank of Zimbabwe would strengthen the mandatory licensing requirements for all business operators.
All operators would be required to have a bank account and a POS machine under the Shop and Shop Licensing Act and inspectors would be deployed to curb misdemeanours that militate against price stability and availability of basic commodities.
“Cabinet also noted that there is a proliferation of smuggled and counterfeit goods that are unfairly competing with local products since they are not subjected to taxation and import duty,” said Dr Muswere.
“The Government of Zimbabwe, going forward, will increase border patrols, increase the number of inspectors and implement a whole of Government approach to deal with the menace at border posts.
“Penalties are being enforced against all perpetrators of unjust price hikes, manipulation of the ZiG currency, smuggling, and all forms of unfair trade practices,” said Dr Muswere.
“Cabinet noted that there is a significant amount of idle unused and abandoned industrial space in the form of empty shells, rail infrastructure, and other properties that belong to private and public entities which have been abandoned by their owners,” said Dr Muswere.
“An inter-ministerial task force will be established to focus on co-ordinating the identification of idle and abandoned industrial infrastructure spaces.
Dr Muswere said Cabinet also received and noted the report on the official visit to Managua, Nicaragua, last month, presented by Vice President Chiwenga who attended the 45th Anniversary of the Sandinista Popular Revolution on behalf of President Mnangagwa.
He said the President of Nicaragua Daniel Ortega Saavedra expressed gratitude for the high-level representation from the friendly countries and further called for increased focus on development and poverty eradication.
“In his solidarity message, Vice President Chiwenga indicated that Zimbabwe was seized with creating an environment that enables all citizens to thrive, and urged all revolutionary parties to take up the duty to ensure prosperity and improve people’s standards of living,” said Dr Muswere.
He said Cabinet received and noted the report on the official visit to the Paris 2024 Olympic and Paralympic Games Official Opening presented by VP Chiwenga on behalf of President Mnangagwa.
“There is renewed interest by French companies to invest in Zimbabwe,” said Dr Muswere.
“The areas of interest for the companies include information technology, energy, civil engineering, project financing, agriculture, infrastructural development and waste management, among others. The companies are scheduled to conduct a business visit to Zimbabwe in the near future.”
Cabinet also received and noted the report on the official visit to Iran for the inauguration of President Masoud Pezeshkian last month that was presented by the Minister of Higher and Tertiary Education, Innovation, Science, and Technology Development Professor Amon Murwira on behalf of Vice President Kembo Mohadi.
Dr Muswere said VP Mohadi attended the inauguration ceremony of President Masoud Pezeshkian on behalf of President Mnangagwa.
Online Reporter