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Government, industry agree not to exclusively price goods in US


Online desk |  3 weeks ago | top




Government, manufacturers and retailers this week reached an agreement that will ensure basic goods are not exclusively priced in United States Dollars. 

Speaking to Zimpapers Radio News after a crunch meeting between the Reserve Bank of Zimbabwe and industry and commerce to find a solution to the exchange rate instability and high pricing of goods, Confederation of Zimbabwe Retailers president Denford Mutashu said basic commodities will not run out with government committing to clear forex backlog to manufacturers from the auction floor.

He added that while stakeholders agree, that using the parallel market to price goods is unrealistic, they are calling on the central bank, to find a market-driven exchange rate with banks allowed to lend to manufacturers.