Govt To Monitor Pricing Along Production Chain To Identify "Wanton Profiteering" - Mutsvangwa
Minister of Information, Publicity and Broadcasting Services Monica Mutsvangwa has said that the government is introducing a system to monitor the pricing system along the production chain to identify businesses fueling price increases. This follows reports by some manufacturers that they had not increased their prices. Manufacturers of cooking oil, in particular, have blamed retailers for the price increases. Addressing the after a cabinet meeting, Mutsvangwa said,
Cabinet resolved that action be taken against those value chain players found to be fuelling unjustified price increases, thereby imposing hardship on the citizens for wanton profiteering.
Industry and Commerce Minister Mangaliso Ndlovu added,
There is a peer monitoring system among suppliers and retailers. “We will be able to track where the sources of price increases are. We want to urge those who are profiteering that we will take measures against them…In terms of the peer review system, we will start by cautioning the deviants and it might end in the withdrawal of the support that the RBZ is giving to most of the entities.
More: Herald
