Business / Local
SI 64 fuels smuggling
11 Oct 2016 at 07:16hrs | Views
The Confederation of Zimbabwe Retailers (CZR) has said continued smuggling of foreign goods into the country undermines the fruitful implementation of Statutory Instrument (SI) 64 of 2016, New Ziana reported.
According to government, SI 64 seeks to stimulate local production.
Zimbabwe recently introduced SI 64 to regulate imports, a move which has been criticized by some quarters but, government is adamant that the move would benefit Zimbabwe in the long term.
CZR president Denford Mutashu said SI 64 had already proved a success as some local manufacturing firms increased production capacity, hence there was need to stamp out smuggling.
However in August the Consumer council of Zimbabwe and Zimbabwe National Chamber of Commerce said the implementation of statutory instrument (SI) 64 of 2016 was going to increase smuggling incidents and cash leakages.
According to government, SI 64 seeks to stimulate local production.
CZR president Denford Mutashu said SI 64 had already proved a success as some local manufacturing firms increased production capacity, hence there was need to stamp out smuggling.
However in August the Consumer council of Zimbabwe and Zimbabwe National Chamber of Commerce said the implementation of statutory instrument (SI) 64 of 2016 was going to increase smuggling incidents and cash leakages.
Source - New Ziana
