Govt Considering Scrapping Off Import Duty On Various Goods
The government is reportedly considering scrapping off import duty on certain goods to allow individuals with free funds to access affordable goods across the country’s borders. This is said to have been necessitated by some businesses that are charging outrageous prices for their commodities.
Sunday News reports that the government also plans to revoke licences of businesses that have defied the government’s orders to charge normal prices.
The warnings come as the business sector, responding to the introduction of Statutory Instrument 142 of 2019, hiked their prices. SI 142 banned the use of all foreign currencies for domestic transactions and reintroduced the Zimbabwe dollar. This resulted in the local currency gaining value against the US$ on the parallel market. Analysts, therefore, argue that hiking prices was pure sabotage.
A snap survey by Sunday News showed that some businesses had however started reducing their prices. For instance,
- 2 litres cooking oil = $16 & $18 from $20;
- 2kgs packet of flour = $11 & $12 from $15 to $30.
Speaking to Sunday News on Friday, Industry and Commerce Minister Nqobizitha Mangaliso Ndlovu said that the government was considering measures to address the issue of the prices.
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We are considering a number of options including reviewing the tariffs regime. I don’t know if we need to be charging duty for people who go and buy groceries outside the country for use when local businesses are killing the same people with high prices. If they continue with this we will remove duty and people can go and buy outside freely.
More: Sunday News
