Zimbabwe suspends duty on flour, cooking oil

• Mugabe says price hikes undermine his gvt

• Tshinga Dube assails Mpofu over price controls

• MP arrested as 1000l of cooking oil seized

• Gono: Price blitz inspired anarchy

• Price increases greet Gono's MPS

• Strike action threat forces U-turn on wage freeze

• Zimbabwe bans wage, price increases

• Retailers 'must raise prices' - Mpofu

• Mugabe: Zim won't change course

• Greed delivers command economy

• Joram Nyathi: Business gave a hostage to fortune

• Gono says price blitz like Iraq war

• 4 police officers arrested in price blitz

• Zimbabwe sets profit margins for businesses

• Zimbabwe shuts down private abattoirs

• Business leaders strike conciliatory tone

• 1300 business executives nabbed in price blitz

• Mugabe: Company seizures threats 'no joke'

• Gono clashes with Zanu PF officials over prices

• Zimbabwe bans bulk sales as shelves empty

• Mobile phone firms hit in price war

• Zimbabwe store shelves empty

• Msika warns of Mugabe's wrath over prices

• Manager beaten up, senator arrested in price war

• Mpofu imposes price freeze on all goods

• Zimbabwe orders prices to be slashed by half

ZIMBABWE on Tuesday suspended import duty on some basic commodities, including cooking oil and flour, in response to a sharp spike in prices following the flotation of the local currency by the central bank last month.

"The high level of (import) duty, incidental to the current inter-bank rate used in the valuation for duty purposes depresses imported volumes of basic commodities," information minister Sikhanyiso Ndlovu told reporters.

"In view of the above, government is therefore suspending duty on basic commodities for a period of 90 days, with effect from 12 May."

The rate of import duty levied varied with the products but stood at between 60 to 100 percent.

Some of the goods include cooking oil, rice, flour and soap, whose prices have shot up by as much as four times since the country's disputed March 29 election.

Zimbabweans had hoped the elections could help end their country's economic meltdown, which has triggered inflation of 165,000 percent, 80 percent unemployment, severe food and fuel shortages, and a flood of refugees to neighbouring states.

Instead, prices have skyrocketed in the stalemate since the poll and reports of politically motivated attacks are spreading.

Official results showed opposition leader Morgan Tsvangirai beat Mugabe for the presidency in the first round, but not by enough votes to avoid a run-off. - Reuters

JOIN THE DEBATE ON THIS ARTICLE ON THE NEWZIMBABWE.COM FORUMS
newsdesk@newzimbabwe.com