We Are Not Going To Ban Used Cars, We Will Make Them More Difficult To Import: Minister Bimha
6 years agoFri, 25 May 2018 11:31:21 GMT
Minister of Industry, Commerce and Enterprise Mike Bimha has said that the government is considering increasing the import levies on pre-owned cars in order to discourage people from importing the cars. Speaking to Business Weekly, Bimha said,
We are not going to ban the second-hand cars but to put in place restriction measures to support the growth of the sector.
However, the policy has been criticised as being elitist. Brains Muchemwa, the chief executive of Oxlink Capital said,
The income levels in Zimbabwe are very low and will not sustain viable demand. Vehicle hire purchase should generally not exceed 30 percent of buyers’ monthly incomes. It is a good policy but very elitist.
More: Business Weekly
