Govt Surrenders, Agrees To Provide Foreign Currency To The Business Community

Information Minister, Monica Mutsvangwa said that the government shall ensure that foreign currency is available to the business community.

Briefing the media on Tuesday after a Cabinet meeting, Mutsvangwa said:

Government is very concerned about price increases and is therefore putting in place mechanisms to ensure foreign currency is made available, to the business community to procure all materials for production processes

This will go a long way to stabilise the availability of foreign currency, which is essential to the stability of prices.

Given this initiative, government is appealing to businesses to exercise restraint and not increase prices wantonly.

This marks a departure from the stance held by government lately. The government has been blaming the business community for deliberately and unreasonably raising prices. On the other hand, the business community was citing the scarcity of foreign currency as the real reason behind the price hikes.

Prices of fuel, bread, maize meal and other basics have shot through the roof in the past few month. Resultantly, consumer organisations threatened to take action if the issue would continue unabated. The government in turn warned of a possible crackdown on protestors if need be.

Related:

• Government Issues Fierce Warning Against Anticipated Anti-Government Protests
• FULL TEXT: Consumer Rights Association Threatens Consumer Mass Action Over Price Hikes
• Government To Enforce Discipline On Business To Cushion Consumers

More: The Zimbabwe Mail

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