Chronicle Editor
Elita Chikwati and Mary Muradzikwa, Harare Bureau
THE Zanu-PF Youth League yesterday expressed concern over the increase in prices of basic commodities and the disappearance of some products from the shelves and urged relevant authorities to introduce currency reforms.
The youths said their investigations showed that manufacturers had not hiked prices, but retailers and wholesalers were increasing them.
Addressing journalists at the party headquarters in Harare yesterday, Zanu-PF Secretary for Youth Affairs, Cde Pupurai Togarepi, said price hikes followed policies announcement by monetary authorities recently.
“Of special concern is the fact that the price increases are coming a few days after the fiscal and monetary authorities presented policies to the nation,” he said.
“Our investigation with different manufacturers has revealed that the bulk of manufacturers did not change the prices of any of their products.
“However, some manufacturers highlighted that they are not receiving adequate supply of foreign currency from the Reserve Bank of Zimbabwe to import the required raw materials.”
Cde Togarepi said manufacturers indicated that they were getting foreign currency on the black market at high rates.
He said it was important to remove duty on raw materials to cushion manufacturers.
“The monetary and fiscal authorities should clearly explain on how they intend to deal with the illegal foreign currency trading,” said Cde Togarepi.
“This in our view is the major source of the problems bedevilling our economy.
“It is against this backdrop that the Youth League recommends the monetary authorities begin a process of currency reform considering the fact that monetary policy is more effective when a country has its own currency.”
Manufacturers of basic commodities have denied increasing prices, saying current shortages were artificial and caused by speculators and unscrupulous business people.
The products have found their way into the informal market where they are sold at exorbitant prices.
Online Reporter