Govt to revoke licences of shops that increase prices

Industry and Commerce Minister Mike Bimha said that Government will consider revoking operating licences of businesses found guilty of unjustified price increases.

Said Bimha:

When companies operate, they operate on the basis of licensing and permits, which Government has a leeway to withdraw if a company is not behaving as required. However, we do not want to come up with measures that punish everybody and yet they are probably few, its better for us to be able to identify the culprits and deal with them.

He said that Government has identified 16 commodities which it will ensure will be prioritised in the allocation of foreign currency to import key raw materials for their production. Manufacturers of the essential products are expected to publish recommended prices every two weeks. ZimStat will publish their price monitoring surveys by the 15th of every month and are expected to conduct public awareness programme on key commodities. 

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