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Zimbabwe's Cross Border traders commend price stability measures

by Staff reporter
23 Nov 2023 at 05:45hrs | Views
The Zimbabwe Cross Border Traders Association (ZCBTA) has commended authorities for implementing comprehensive measures that have contributed to price stability. The recognition follows the maintenance of a tight Monetary Policy environment, reinforced by instruments such as Open Market Operations Bills, which have effectively absorbed excess Zimbabwean dollar liquidity, preventing its flow into the parallel market.

Fiscal authorities have played a complementary role by eliminating duty payment requirements on essential commodities with inflated prices, thereby fostering price stability. These measures have mitigated the impact of unjustified price hikes linked to profit-seeking practices by local retailers.

Augustine Tawanda, the Secretary General of ZCBTA, expressed appreciation for the authorities' bold steps in instilling price stability and discipline in the markets. He noted the positive effect on reducing the influence of predatory cartels on the national pricing ecosystem, resulting in the current reduction and stabilization of prices. Tawanda urged the government to persist in these efforts until manufacturers and distributors abandon past tendencies of profiteering.

As Zimbabwe prepares for Intra-Africa Trade, ZCBTA raised concerns that local statistics do not account for intra-trade driven by small-scale cross-border traders, emphasizing the need for a win-win intervention that recognizes their contributions. The traders' group called for government consultation to harness the mass markets operated by these traders, transforming them into employment creation zones that support decent markets and jobs.

ZCBTA also advocated for the taxation of alcohol traders, considering the significant waste generated by their byproducts.

Source - newzimbabwe