ED warns ‘gluttonous’ business operators for price hikes

Spread This News

By Alois Vinga

PRESIDENT Emmerson Mnangagwa has warned the business community against hiking prices without justification hinting that his administration will continue to engage and work on the fundamentals that are necessary for the introduction of a national currency.

Addressing delegates to a Zanu PF 17thannual conference in Esigodini Friday, Mnangagwa bemoaned the recent surge in medicine, farm inputs and fertiliser costs, among a wide range of basic commodities.

He blamed the rot on unscrupulous business operators he accused of hiking prices without any justification.

“We condemn the opportunistic and gluttonous triple pricing regime practices by some business persons which has caused untold suffering to the majority of our people,” he said.

He narrated that one night he went to bed when a bag of fertiliser was costing $33 but when he woke up the next morning, the price had gone to $105.

Mnangagwa said the business operators abruptly lowered the price to $40 after he had organised a meeting with them to try and understand the motivation behind the increases.

He pledged his efforts towards stabilising the economy.

“Government and industry continues to dialogue and interrogate the cost build ups towards finding lasting solutions which will bring permanent relief to consumers and greater stability to the economy.

“We also need to address the question ofour own domestic currency once the correct economic fundamentals are in place,”Mnangagwa said.