Measures put in place to protect consumers from price increases

GOVERNMENT has put in place measures to protect consumers against wanton price increases, the Minister of Industry and Commerce, Nqobizitha Mangaliso Ndlovu, has said.

The Minister also warned the retail sector against sabotaging Government engagement efforts by wantonly increasing prices. He said Government was in the process of crafting measures to discipline errant businesses.

"We will soon be addressing issues of lack of discipline by market players. We are worried and concerned as Government about the prevailing situation, particularly in the retail sector. We are worried about the recent wave of price increases which are not only unjustified but are also grossly unfair to consumers. We must all play a part in the building of this economy. It is unfortunate that some businesses have decided to abandon the process of engagement, said Minister Ndlovu.  He said Government will not hesitate to take action to protect consumers against unscrupulous businesses that are after profiteering.

"Government understands the challenges and empathises with the public and I assure the nation that the process of addressing distortions in the market has started," said Minister Ndlovu.  Consumers are saying the cost of living is now beyond their reach as a result of incessant price increases of basic commodities.

National Consumer Rights Association (NACORA) spokesperson Mr Effie Ncube said most consumers can no longer afford basic commodities because of the exorbitant prices.

"Prices of commodities have more than trebled but the salaries of consumers have not changed. Life is becoming unbearable and we call on Government to introduce measures that will protect the consumers against these profiteering cartels. Walking into a supermarket is now a nightmare, people cannot plan anything because the moment you walk out of that supermarket, prices will change and your next trip is another shocker," said Mr Ncube.  

Consumer Council of Zimbabwe (CCZ) executive director , Ms Rosemary Siyachitema, slammed the price increase madness saying retailers are now pegging prices based on the black market exchange rate.

"For example an ordinary pie that used to be $3,50 is now pegged at US$2 and RTGS$16 which is too much," she said.

Ms Siyachitema said the price increases have eroded consumers' earnings as most workers salaries have not changed for a long time now. "Prices are going up while salaries remain stagnant which frustrates consumers. Some people are no longer affording more than one meal per day because basic commodities are not affordable," she said.

The Confederation of Zimbabwe Retailers (CZR) president Mr Denford Mutashu said rampant price increases were as a result of spiralling increases in operational costs. He said forex shortages were also worsening the situation as retailers were being forced to source the forex on the black market where it is very expensive.