Minister Bimha blasts commodity price hikes

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By Gwendoline Mugauri

 

The Ministry of Industry, Commerce and Enterprise Development has bemoaned the continuous price hikes of basic and non-basic commodities despite recommendations and measures by an inter-ministerial task-force to ensure pricing discipline.

There had been a steady increase of commodities since September, in the country’s leading retail outlets with players in the sector attributing the surge to foreign currency shortages.

While officially opening the Zimbabwe National Chamber of Commerce (ZNCC) Business Review Conference 2017 at Cresta Lodge Msasa yesterday, Industry, Commerce and Enterprise Development Minister Dr Mike Bimha further warned retailers saying government would institute stiffer measures to ensure adherence.

Minister Bimha however hailed the initiative of annually reviewing progress of the country in the business sector by the Zimbabwe National Chamber of Commerce saying the move would ensure correction and review of reforms to drive economic growth.  

In her welcome remarks, President of the Zimbabwe National Chamber of Commerce Dr Devine Ndlukula said the Business Review Conference sought to evaluate how the country had progressed interms of economic growth and identify areas of improvement for 2018.

The conference was running under the theme “Consolidating the New Normal Economy through Policy Reforms.” Dr Ndhlukula added that the theme resonated well with measures instituted by government to address the Ease of Doing Business through the Rapid results initiative.

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