adminCommission irrelevant and it should be disbanded, economists have said.
The NIPC was established to deal with pricing disparities, regulating a shambolic pricing environment then holding sway during the past decade of economic meltdown. Before the adoption of the multi-currencies in 2009, NIPC prosecuted owners of business enterprises who were illegally hiking prices.
Following the adoption of multiple currencies, the NIPC Act was amended to change its role from a regulatory to a monitoring and advisory role.
With sanity now prevailing in the economy characterised by manageable inflation, analysts now question the prudence of stretching the meagre resources of the fiscus through maintaining the redundant pricing watchdog.
Economist Mr Takunda Mugaga said the NIPC was no longer relevant in the prevailing economic environment.
“It is not necessary to set up any pricing regulator at this juncture,” said Mr Mugaga.
“Control at times destroys entrepreneurs and it leads to artificial shortages of commodities in the market,” he added. Another economist, Mr Innocent Makwiramiti, concurred that NIPC mandate was no longer necessary since the economy had improved.
“The economy is stable right now which shows that it is no longer needed. It may be good if we are producing goods rather than importing,” he said.
Mr Makwiramiti said the use of foreign currency was making it difficult to monitor incomes and prices.
“Incomes are a compromise between the employer and the employee and that alone makes it difficult to equate,” he said.
“If capacity utilisation increases to 200 percent then that is when the NIPC would be needed.” – New Ziana.
Online Reporter