Tinaye Agere
Online Reporter
Buy Zimbabwe has raised concern over Finance and Economic Development Minister Professor Mthuli Ncube’s recent decision to scrap import duty on basic commodities saying this leaves the local manufacturing industry vulnerable to cheap imports.
In a statement on Friday Buy Zimbabwe chairperson Mr hhweMunyaradzi HWENGWERE said the new measures are a threat to the 66 percent capacity utilisation achieved in the manufacturing industry.
“We support Govehwemthrnment’s focus and fight against inflation and the protection of the
consumer from rampant price hikes,” he said.
“Buy Zimbabwe is however concerned that some of the measures announced such as the scrapping of duty on imported products will reverse the industrialisation gains scored by the Second Republic in the last few years.
“This includes the rise in capacity utilisation by industry to 66 percent and the increase in the amount of shelf space taken in wholesale and retail outlets by local good to about 70 percent.”
Buy Zimbabwe called for an emergence meeting with wholesalers and retailers to map a way forward.
“In light of the Minister’s announcement, Buy Zimbabwe is therefore calling for an
emergency meeting next week with wholesalers and retailers, convened to formulate a response to the announced measures which will be forwarded to government,” Mr Hwengwere said.
“It is our firm belief and conviction that if local industry continues to receive support from government, Zimbabwean companies will not only provide products which are cheaper and competitive, but can also satisfy local market demand and the export market.
“Buy Zimbabwe remains committed to the production, promotion and preference of local products and services to create and preserve jobs, wealth and pride.”
Bongani Ndlovu
Online Reporter