Industry and Commerce Minister Nqobizitha Mangaliso Ndlovu said Delta Corporation’s announcement it will start selling all its products in foreign currency with effect from tomorrow is illegal and against the spirit of fairness.
Minister Ndlovu said Government had tried to ensure businesses operate in a free atmosphere, but companies were now acting in bad faith. He said if Delta does not stop selling in foreign currency only the law will take its course. Said Ndlovu:
We have noted with concern a proliferation in the number of companies and businesses engaging in preferential currency practices. This is not only against the spirit of fairness, but it is also an illegal practice. Government is very clear that this practice is unacceptable and has to stop forthwith and if not, the law will take it’s course. The Government has supported business to operate liberally within the economy without interference but giving an intervening hand whenever it has been called upon to assist. In return, Government has expectations that business will operate in good faith and responsibly. At the centre of the relationship between Government and business is the spirit of engagement and a two-way communication between all parties. That spirit is defeated when one of the parties decides to unilaterally pronounce decisions against both the text and spirit of agreed principles.