Govt Monitoring Prices, Those Increasing Prices Risk Losing RBZ Support

Industry and Commerce Minister Mangaliso Ndlovu said Government is monitoring prices and those increasing without justification prices risk withdrawal of the Reserve Bank of Zimbabwe’s foreign currency support, among other penalties.

Speaking to The Herald Ndlovu said:

We met the stakeholders and they have given us assurances that starting from today, there will be adequate stocks. We are monitoring that. We are also monitoring prices, especially those entities that have received foreign currency support. There is a peer monitoring system among suppliers and retailers. We will be able to track where the sources of price increases are. We want to urge those who are profiteering that we will take measures against them. In terms of the peer review system, we will start by cautioning the deviants and it might end in the withdrawal of the support that the RBZ is giving to most of the entities. We want to track the source of the increases and establish the stage at which the prices are being hiked and the culprits thereof.

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