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Mealie meal goes down to $50

by Mandla Ndlovu
05 Dec 2019 at 09:17hrs | Views
The Minister of Finance and Economic Development Mthuli Ncube has announced that he has reversed the removal of subsidies on the maize meal leading to the prices being lowered.

President Emmerson Mnangagwa told the youth league in Kadoma that the government is going to reverse the decision.

Read the full statement below:

1. As you may be aware, His Excellency the President, Coe E.D Mnangagwa announced that subsides on maize be restored in order to cushion the vulnerable groups of our Society from the negative impact of increases in basic food prices.

2. Under this new subsidy model, Government will fund the procurement of grain at market prices and selling the same to registered maize millers to ensure availability and affordability of the commodity. This model will create fiscal space for Treasury to finance other social protection programmes.

3. Goverment will ensure that the requisite monthly tonnage of 40 OO0MT required for producing 32 000MT of roller meal will be timely availed by GMB to members of the Grain Millers-Association of Zimbabwe (GMAZ).

4. In this regard, the new subsidy model will therefore target the production of roller meal resulting in the retail price of ZWL$50 for a 10 kg bag.

5. The payment modalities for the new targeted Subsidy for roller has been discussed and agreed with GMAZ, whose members have a 95% share of the roller meal market.

6. The implementation of this new subsidy policy is with immediate effect.

Source - Byo24News