Chronicle Editor
Sikhulekelani Moyo, [email protected]
ZIMBABWE National Roads Administration (Zinara) has reviewed downwards both toll and vehicle licensing fees effective today following the continuous strengthening of the local currency against the United States Dollar.
This is the second downward review by the roads administration after another last month, a development which was commended by consumers saying that Government departments should lead by example following trends in exchange rates.
In an update on its Twitter handle, Zinara said: “We are pleased to advise of the downward review of toll fees in terms of Section 4 of the Statutory Instrument 32 of 2021.”
The fees which are pegged in both foreign currency and local currency have seen a downward review in local currency where a light-motor vehicle is now paying $10 000 from $10 800.
Vehicle licensing is now $100 000 down from $108 000, per term for a light motor vehicle.
The continuous decline of the exchange rate has come as a great relief to consumers bringing hope that prices for basic commodities and services will follow the same trajectory.
Many grocery shops and service providers have since started reviewing prices of their goods downwards which has seen a 2-litre cooking oil which was going for as high as $28 000 now reduced to about $16 000.
Following the recent macro-economic policies, which were put in place by the Government in May, the Zimbabwean dollar has been steadily regaining its value, which has seen it trading at US$1: $4 517 at last week’s forex auction from US$1: $4 537 the previous week.
Online Reporter