The Sunday Mail
Online Reporter
THE Consumer Council of Zimbabwe (CCZ) has called on the Reserve Bank of Zimbabwe (RBZ) to blacklist companies that acquire foreign currency at favourable rates on the foreign currency auction system but keep chasing the parallel market rate in their pricing.
This follows a sharp increase in prices of basic commodities over the past few months.
Speaking to The Sunday Mail Online, CCZ acting director Mrs Rose Mpofu said companies who get money on the RBZ auction are obliged to act in good faith when pricing their goods.
“CCZ engaged the RBZ in a move to try and understand how service providers who are accessing forex from RBZ could cost using black market rates, and possibly advise that those who were abusing the system and not adhering to Statutory Instrument 185 be scratched from the list,” she said.
CCZ has also engaged the National Bakers Association of Zimbabwe on the recent bread price increases, as its members also get forex from the auction system.
“However, we expect prices to stabilise especially after Government suspended duty on the importation of basic commodities.
“The duty-free imports are welcome as they will alleviate the plight of consumers. Imported goods will also create the much-needed competition on both price and also quality.”
From March to June this year, prices of basics have risen by about 100 percent, yet salaries have remained stagnant.
