News / National
Zimbabwe govt threatens to revoke licences from businesses hiking prices
10 Oct 2018 at 07:09hrs | Views
VICE President Kembo Mohadi says fuel station operators and retailers found selling their products in foreign currency risked having their business licences revoked by government.
His remarks follow a week long pricing frenzy by businesses trying to match the shelf value of their commodities and services with the much-sought after US dollar, which is now almost four times stronger than the local currency.
"Anyone pricing above these regulated fuel prices is doing so illegally," Mohadi told the media on Tuesday.
"Price monitors are on the ground monitoring the situation. All those caught selling fuel at prices not approved by Zera (Zimbabwe Energy Regulatory Authority) and those service stations either demanding payment in hard currency or engaging in other untoward trading practices will have their licenses revoked," said the VP.
His remarks follow a week long pricing frenzy by businesses trying to match the shelf value of their commodities and services with the much-sought after US dollar, which is now almost four times stronger than the local currency.
"Price monitors are on the ground monitoring the situation. All those caught selling fuel at prices not approved by Zera (Zimbabwe Energy Regulatory Authority) and those service stations either demanding payment in hard currency or engaging in other untoward trading practices will have their licenses revoked," said the VP.
Source - newzimbabwe
