Industry Calls For Re-enactment Of SI 122 Of 2017

5 years agoSun, 10 Mar 2019 03:08:19 GMT

Industry Calls For Re-enactment Of SI 122 Of 2017

Industry captains have called upon the government to consider re-enact Statutory Instrument 122 of 2017 that allows companies and individuals with offshore and free funds to import specified basic commodities that are in short supply in the country.

Speaking at a Ministry of Industry and Commerce breakfasting meeting in Bulawayo last Friday, Confederation of Zimbabwe Industries (CZI) Matabeleland chapter president Joseph Gunda said:

To some extent, we need to liberate the economy but in an economy that is in this state, we absolutely may need some form of protection.

The reason why SI 122 was repealed was to allow those with free forex to use it to import those basic commodities that were in short supply and the intention of this was also to ensure that prices go down, but has that happened?
Our analysis proves that prices are still high, they have not gone down. We also see some of the forex being used to import products that we manufacture locally.
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So we are calling as already presented to the minister that perhaps there is a need for a policy review, where the policy is deemed not to be giving the right results, particularly SI 122.