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Zimbabwe: Govt Okays Price Hikes
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 Published by the government of Zimbabwe |
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The Herald (Harare)
22 August 2007
Posted to the web 22 August 2007
Harare
Government has approved increases in the prices of some goods ranging from foodstuffs, soap, farming inputs and tyres to improve supplies on the market.
Adjustments for train and air fares, telecommunications and freight tariffs have been approved and the new fares and tariffs will be communicated through the relevant authorities. Foodstuffs whose prices were increased include sugar, tea leaves, chicken and bicarbonate soda.
The prices of Geisha bath soap, Cobra floor polish, Key bar laundry soap, Omo washing powder and blankets were also reviewed upwards. Farming inputs whose prices were reviewed were maize seed and Chirindamatura dust which is used to protect grain against weevils.
Prices of motor vehicle tyres and Bata shoes were also increased. The benchmark for all other prices of commodities not covered by yesterday's review remain at June 18 2007 levels until further notice.Announcing the price reviews in a statement last night, chairman of the Cabinet Taskforce on Price Monitoring and Stabilisation Cde Obert Mpofu said implementation of the manufacturer's June 18 price would guarantee uniformity and standardisation going forward. Cde Mpofu, who is also the Minister of Industry and International Trade, said retailers would be allowed to put a maximum mark up of 20 percent and charge Value Added Tax of 15 percent on a commodity.
For example, a retailer who gets a product from a supplier at $100 000 will sell the product at a maximum price of $138 000. To ensure consistency and uniformity, price inspectors and monitors would use the manufacturer's price of June 18 as the benchmark and a mark up of 20 percent plus 15 percent VAT as the price of basic goods and commodities in retail shops.
Cde Mpofu said price inspectors and monitors would be accompanied by uniformed policemen and women when they visit businesses. Those slaughtering cattle in the rural areas, he said, were required to follow normal procedures by obtaining police clearance.
Cde Mpofu said it was imperative that fuel - which is a crucial component in production and movement of goods -- should be readily available.
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To ensure adequate supplies, the Government had introduced a direct fuel import facility. "The direct fuel import facility has not been stopped. However, the facility will be handled by the National Oil Company of Zimbabwe in order for the economy to benefit from economies of scale through bulk purchases. "Furthermore, corporates and individuals will continue to source fuel from their regular suppliers in conjunction with Noczim," he said. He said the Government applauds the co-operation it was receiving from the private sector with regards to pricing of commodities. "More concerted efforts should, however, be put on improving the supply of basic commodities to the market.
"Stakeholders are, therefore, urged to have a common sense of purpose, direction and focus for the benefit of all Zimbabweans."
Early this month, the Government approved increases in the prices of some basic goods, packaging material, stock feed and cement to improve supplies in the market.
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