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President Mnangagwa speaks on prices

President Emmeson Mnangagwa on December 18 lashed out at the continued hiking of prices by some industry players describing it as counter economic and derailing government’s efforts to set Zimbabwe on a developmental path again.

Our Staff

Mnangagwa was addressing delegates who attended the sixth annual Buy Zimbabwe awards held in the capital at Cresta Lodge.

He said the recurring and ongoing cases of price hiking could not go on and government was against such “counter economic” practices.

Mnangagwa encouraged retailers and wholesalers to refrain from unjustified price hiking and help government in upholding the rights of consumers.

“This cannot go unabated and we need to examine our modus operandi as captains of industry, if we are ever going to move forward. There are some suppliers and business owners who are in the business of increasing prices without any proper justification, let me hasten to say as government we say no to such counter economic practices.

“I urge our wholesalers and retailers to refrain from profiteering by charging unscrupulous prices that may derail our efforts for a quick turnaround of the economy because government wants to protect the rights of consumers and ensure that its citizenry is not short-changed.”

Mnangagwa said government was making efforts to address the cash shortages which have affected the economy, while urging industries to uphold the ever-growing use of plastic money.

“The cash shortages have negatively impacted on effective demand. Government is doing all in its power to address the anomaly, among other things, the proposed domestic procurement index which will require retailers to cut down on imports and increase purchases of local products,” he said.

Mnangagwa added: “Government is doing everything possible to revive the economy through enactment of laws and policies that support local producers while linking them to retailers, consumers and other relevant stakeholders.

“Among some of these measures are the cotton pricing model, cotton to clothing value chain, industrial development fund, leather and leather products strategy and the National Competitiveness Bill.”

He applauded Buy Zimbabwe for hosting the awards which continue to encourage home grown products for both the domestic and the global markets.

“Buy Zimbabwe efforts through its annual Buy Zimbabwe Awards should be applauded. The campaign seeks to actively promote home-grown products for the domestic and global markets.”

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