Govt Should Pay Civil Servants In Rand, Business Should Peg Prices In Rand: Industry

The Confederation of Zimbabwe Industries (CZI) has called on businesses to peg prices in Rand in order solve the cash crisis and to make local products more competitive. CZI president Mr Sifelani Jabangwe said

There have been concerns by industry to push for the use of the rand because it is a softer currency, which will make us competitive on the export market and this might go a long way in solving the liquidity challenges we are facing in the economy…As business, I believe we should lead and peg our prices using the rand and slowly the public will gain confidence and start transacting using the currency.

Economist Washington Mathuthu added,

Government should be the first to accept the rand because at the moment most government departments are only accepting the United States dollar and bond notes. If you look at it Government only needs to pay its workers using the rand and everyone else will follow because civil servants are the majority in this economy.

More: Chronicle

 

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