Govt unveils price monitoring system

19 Oct, 2018 - 00:10 0 Views

eBusiness Weekly

Government has embarked on a price monitoring system along the production chain, from manufacturers to retailers, as part of measures to flush out economic saboteurs. It also resolved that manufacturers and suppliers of basic commodities and medical drugs should revert to the pricing system that recognises the guaranteed convertibility of bond notes and RTGS balances to the US dollars on a 1:1 ratio.

Briefing journalists at a joint Press conference after a Cabinet meeting on Tuesday, Information, Publicity and Broadcasting Services Minister Monica Mutsvangwa said action will be taken against saboteurs.

“Cabinet resolved that action be taken against those value chain players found to be fuelling unjustified price increases, thereby imposing hardship on the citizens for wanton profiteering,” she said.

Clarifying the same issue, Industry and Commerce Minister Mangaliso Ndlovu said the culprits risk withdrawal of the central bank’s foreign currency support, among other penalties. — The Herald.

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