Calvin Manika
GOVERNMENT’s recent Statutory Instrument outlawing pricing of goods and services using the black market rate has drawn mixed feelings from Hwange residents.
Statutory Instrument (S.I) 127 of 2021 Presidential Powers (Temporary Measures) (Financial Laws Amendment) Regulations also makes it an offence to issue a local currency receipt for a foreign currency purchase.
A snap survey by the Zambezi Times shows that there is partial compliance to the SI from big retail giants, tuck-shops and SEM’s.
Most tuck shops are pegging their prices using the black market rate while prices of basic goods have also been increased beyond reach of many.
“For a long time we have been enjoying stability in prices. S.I. 127/2021 has pressed a panic mode button to the people. Some business has started increasing prices and in most cases of goods priced in local currency, they are pegging using black market rate,” said Dylan Nyoni.
Some residents expressed concern on the lack of enforcement of the SI to ensure compliance.
“I think the government needs a wide consultation with relevant stakeholders to see if the S.I will not haunt people. Otherwise for the meantime, the law enforcement agents must monitor compliance by the shops, though excess monitoring may lead to shortage of some commodities,” said Timothy Maphosa.
Government argues the SI is necessary to enforce discipline in the market and ‘protect’ consumers who have to bear with the harsh economic climate.
The S.I comes at a time when the Food Poverty Line (FPL) for one person in May 2021 has increased to $4, 139. 00, up by 1.0 per cent from the April’s $4, 099. 95.
According to Zimbabwe Statistics Agency (ZIMSTATS) the food poverty line (FPL) represents the amount of money that an individual will require to afford the minimum required daily energy intake of 2100 calories.
ZIMSTAT has since November been producing the PDL using the lower bound poverty line.
The method refers to the sum of food poverty line and the average amount derived from non- food items of households whose total expenditure is equal to the food poverty line.
