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Price controls do not work says Ruhanya

by Simbarashe Mwandipendaa
24 Apr 2020 at 11:51hrs | Views
Political commentator Pedzisai Ruhanya denounced ZANU PF's move to control prices of basic commodities citing the eroded Zimbabwean economy.

"Zanu PF should know that price controls don't work especially in non productive economies such as Zimbabwe.The few producers will simply stop production there will be huge shortages and pandemonium," Ruhanya said via Twitter.

Government on Wednesday reintroduced price controls on basic commodities, raising fears of shortages as industry remains under lockdown due to the coronavirus outbreak with supplies running out.

Prices have more than doubled since President Emmerson Mnangagwa put the country under lockdown on March 30, which he extended by a further two weeks to May 3 at the weekend, with long queues now an early morning feature at supermarkets and shops around Harare and major cities as shoppers hunt for basic commodities such as sugar and cooking oil that are already in short supply.

Source - Byo24News