Govt Urges Business Sector To Reduce Prices
2 years agoThu, 15 Sep 2022 16:08:35 GMT
Energy and Power Development Minister Soda Zhemu says the government expects the business sector to start reducing prices as fuel prices continue to fall.
Speaking in an interview with New Ziana, Soda said business should slash prices in tandem with the drop in fuel prices, and stabilised exchange rates, among other factors. Said Soda:
What we have seen in the past is that when the price of fuel increased even by a single cent, business would increase prices of basic commodities.
… Now that the price of fuel is going down, we do not seem to see that reflected in the prices of goods and services, and it is actually a concern.
They should pass the benefits accruing to the consumers just as they were doing when things were difficult. Why not now?
He noted that the business sector is always quick to increase prices whenever the price of a key input, such as fuel, was increased, yet was reluctant to reduce prices when fuel prices have been going down.
Last week, the Zimbabwe Energy Regulatory Authority reduced the price of petrol from $1.58 to $1.53 per litre.
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14 Comments
Jerenyenje · 2 years ago
Can someone tell this mbanje smoker kuti its diesel that drives industry not petrol..Switch on
baTine · 2 years ago
The permanent Secretary in the Ministry of Information, Publicity, and Broadcasting Services, Nick Mangwana, has said prices of commodities are “coming down.”
Mangwana attached a picture of cooking oil and Mazoe peach to the message he posted on Twitter. He said:
The prices are coming down. It’s all making sense.
Cooking oil prices are going down in reality. At one leading wholesale in Zvishavane a box of Pure Drop was $43 in June and now it’s $33.
Prices of commodities have been going up since the beginning of the year with authorities citing the war in Ukraine which affected trade in the geoeconomics arena.
Inflation was also being fuelled by the collapse of the Zimbabwe dollar that has since its reintroduction in June 2019 been losing value against other currencies, particularly the United States dollar.
The exchange rate on the informal market seems to have stabilised in recent weeks and authorities attribute the relative stability to the introduction of the Mosi-oa-Tunya gold coins.
The Reserve Bank of Zimbabwe (RBZ) introduced the coins on the 25th of July 2022 in a bid to stabilise the economy by easing demand for US dollars and storing the value of money after the Zimbabwe dollar lost more than two-thirds of its value against the USD this year.
Some analysts argue that the relative stability might be shortlived hence the need for authorities to establish sustainable solutions.
Pindula News
baTine · 2 years ago
The permanent Secretary in the Ministry of Information, Publicity, and Broadcasting Services, Nick Mangwana, has said prices of commodities are “coming down.”
Mangwana attached a picture of cooking oil and Mazoe peach to the message he posted on Twitter. He said:
The prices are coming down. It’s all making sense.
Cooking oil prices are going down in reality. At one leading wholesale in Zvishavane a box of Pure Drop was $43 in June and now it’s $33.
Prices of commodities have been going up since the beginning of the year with authorities citing the war in Ukraine which affected trade in the geoeconomics arena.
Inflation was also being fuelled by the collapse of the Zimbabwe dollar that has since its reintroduction in June 2019 been losing value against other currencies, particularly the United States dollar.
The exchange rate on the informal market seems to have stabilised in recent weeks and authorities attribute the relative stability to the introduction of the Mosi-oa-Tunya gold coins.
The Reserve Bank of Zimbabwe (RBZ) introduced the coins on the 25th of July 2022 in a bid to stabilise the economy by easing demand for US dollars and storing the value of money after the Zimbabwe dollar lost more than two-thirds of its value against the USD this year.
Some analysts argue that the relative stability might be shortlived hence the need for authorities to establish sustainable solutions.
Pindula News
Vinshie · 2 years ago
ngavadzikisewo zupco
WILLIAM SONBOY CHINEMBIRI · 2 years ago
Minister Soda Zhemu is talking about genuine businessmen and not the ones we have in our country.
In Zimbabwe we have shark businessmen. What the Minister is saying is what must happen that if prices of fuel goes down there must be a corresponding reduction in goods prices.
[ VOTE CCC FOR REAL CHANGE ] .
Yours faithfully
William Sonboy CHINEMBIRI
[ THE BUSH LAWYER ].
kkk · 2 years ago
petrol chete ndiyo yakadzika mdhara diesel richingori pekare Saka Soda ngaudze vetumota twemishikashika kut tudzikise nditwo twoshandisa petrol
Gafa · 2 years ago
Ko zvamaiti hondo yekuUrkrain ndoirikuti zvinhu zvikwire yakapera here hondo?Musadzikisa nduwe muchifunga trouse inoshinya ichakwana.
Big Boy · 2 years ago
@Gafa usade kusvibisa zita raWinky D nemashoko ako aya asina njere. Hondo haina kupera ndosaka fuel isina kuzodzika zvekudzokera pa$1.31 but mamwe mafactors akaita seincreased production mune dzimwe nyika dzeOil ndoaita kuti fuel idzike mbichana.
Mwana wamai Simo · 2 years ago
😁😁😁
baTine · 2 years ago
The permanent Secretary in the Ministry of Information, Publicity, and Broadcasting Services, Nick Mangwana, has said prices of commodities are “coming down.”
Mangwana attached a picture of cooking oil and Mazoe peach to the message he posted on Twitter. He said:
The prices are coming down. It’s all making sense.
Cooking oil prices are going down in reality. At one leading wholesale in Zvishavane a box of Pure Drop was $43 in June and now it’s $33.
Prices of commodities have been going up since the beginning of the year with authorities citing the war in Ukraine which affected trade in the geoeconomics arena.
Inflation was also being fuelled by the collapse of the Zimbabwe dollar that has since its reintroduction in June 2019 been losing value against other currencies, particularly the United States dollar.
The exchange rate on the informal market seems to have stabilised in recent weeks and authorities attribute the relative stability to the introduction of the Mosi-oa-Tunya gold coins.
The Reserve Bank of Zimbabwe (RBZ) introduced the coins on the 25th of July 2022 in a bid to stabilise the economy by easing demand for US dollars and storing the value of money after the Zimbabwe dollar lost more than two-thirds of its value against the USD this year.
Some analysts argue that the relative stability might be shortlived hence the need for authorities to establish sustainable solutions.
Pindula News
✍🏽 · 2 years ago
Hapana chinodzika coz mangwana tinogona kuudziwa kuti fuel yakwira zvakare nekuti queen afa
Big Boy · 2 years ago
Yakazokwira fuel ndopanozokwirawo maprice but izvezvi tati maprice ngaadzike nekuti fuel price yadzika
Tintin · 2 years ago
hakusi kumarizevha kwamunonyeba madiro muno muHarare musingararwe vanhu vachifunga nhamo dzamurikuvapa.tibvire apo.
CX · 2 years ago
ndavaende kunogara kumusha.ndiko kune mafans avo.
Duduzani · 2 years ago
If you study well the history, Zimbabwean uprising against colonialism part you'll understand that the government is practicing exactly what Smith was doing to Zimbabweans. Supermarket prices are now pecked above the black market rate, therefore those earning RTGS are still wallowing in poverty, all Government parastatals are charging goods and services using usd. So how can one survive under such conditions
Mambo · 2 years ago
T. s. e k Zhemi fuel ipi iri kudonha price.Kunyeoera vanhu mu. su. r. i wamai vako.
Wisdom · 2 years ago
maprice zveshuwa ngaadzike kunyanya soda ne jemhu
Prince · 2 years ago
Kkk haa ndaseka
jjj · 2 years ago
kkkkkkk ma1
Naruto · 2 years ago
😂😂😂😂
Tkt says · 2 years ago
@Businesswoman
Wrong answer Sis. Simple answer is prices won't fall bcoz businesses DON'T USE P.E.T.R.O.L but DIESEL which has remained VERY HIGH
Businesswoman · 2 years ago
We will not reduce prices because exchange rate 'stability' is false
