The government has announced it will take strong action against businesses that manipulate Zimbabwe’s currency, the Zimbabwean dollar (ZiG).
This move aims to stabilize the exchange rate and control the rising prices of essential goods.
During a recent briefing, Information, Publicity, and Broadcasting Services Minister Jenfan Muswere explained the government’s plan. He highlighted that some businesses have been unfairly using unofficial exchange rates to set prices, causing economic instability.
Minister Muswere emphasized that the government is committed to stopping this practice. New regulations will require all businesses to have a bank account and a POS machine. Inspectors will also be deployed to ensure businesses comply and to tackle price manipulation and shortages of basic goods.
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Additionally, the government is cracking down on smuggled and counterfeit goods that evade taxes and import duties, which harm local businesses. To combat this, border patrols will be increased, more inspectors deployed, and a coordinated effort across government agencies will be implemented.
Minister Muswere concluded by affirming the government’s dedication to restoring fairness in the market and ensuring the Zimbabwean economy operates smoothly and honestly.
Petrol, Diesel Pump Prices Increases,The price of gasoline (E20) at the pump has gone up by one cent to $1.60 per liter, and the price of diesel 50 has gone up by one cent to $1.63 per liter.
The Zimbabwe Energy Regulatory Authority (Zera) has announced a small increase in fuel prices, both in Zimbabwean dollars and US dollars, effective August 7.
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Right now, Diesel 50 costs ZiG 22.42 per liter. Blend now costs ZiG 22.08 per liter. ZiG Currency
