Business / Economy
Biti warms unscrupulous businesses against profiteering
03 Aug 2011 at 15:49hrs | Views
The Zimbabwe Finance Minister, Tendai Biti told Senators in the Upper House of Assembly during a debate on the Mid-Term Fiscal Policy review, that government could employ tough measures to protect consumers from unscrupulous business people who have decided to profiteer using the reintroduction of duty on processed foodstuffs as an excuse, ZBC News Reported on Wednesday.
"Business people should understand that running a business you need time. They should know that the reintroduction of duty is a mere Statutory Instrument which is not an Act of Parliament that can be lifted at any time...," Biti said.
According to ZBC News some errant business people had already increased prices of basic commodities with a two litre bottle of cooking oil being raised to an average of US$4.50 up from the region of US$3.50 soon after the announcement of the Mid-Term Fiscal Policy review.
According to ZBC News some errant business people had already increased prices of basic commodities with a two litre bottle of cooking oil being raised to an average of US$4.50 up from the region of US$3.50 soon after the announcement of the Mid-Term Fiscal Policy review.
Source - ZBC
