The Zimbabwe Cross Border Traders Association (ZCBTA) has commended authorities for employing holistic mechanisms which yielded price stability.
The remarks come after monetary authorities maintained a tight Monetary Policy environment which is ring-fenced by instruments such as Open Market Operations Bills which have gone a long way to mop up excess ZWL liquidity and in the process prevent it from flowing into the parallel market.
Fiscal authorities have also complimented the efforts by scrapping duty payment requirements on all basic commodities with inflated prices locally resulting in price stability.
Such measures have diluted the impact of errant price hikes which are hinged on the culture of profiteering as exhibited by local retailers.
ZCBTA Secretary General, Augustine Tawanda Wednesday applauded authorities for taking the bold stance to instil price stability and discipline in the markets.
"This has helped to reduce the grip predatory cartels had on the national pricing ecosystem as can be seen by the current reduction and stabilization of these prices. Against this background, we urge the government to continue on this track until all our manufacturers and distributors abandon elements of profiteering which were prevalent in the past.
"It is only through decent markups that Zimbabwean products will end up with a pricing structure which resonates with pricing models in the region and other competitive markets," he said.
As the country gears for Intra-Africa Trade, ZCBTA expressed concerns that local statistics do not take into account intra-trade driven by small scale cross border traders despite their significant impact amid calls for the government to design a win-win intervention which taps into the contributions from this sector.
The traders' group also implored the government to utilize adequate consultation and harness the mass markets they operate in to transform them into employment creation zones which support the creation of decent markets, and decent jobs.
ZCBTA also urged authorities to seriously consider taxing the Alcohol traders considering the amount of waste generated by their byproducts.
