Price hikes illegal — Minister

by Sunday News Online | Sunday, Sep 23, 2018 | 3482 views
Minister Mangaliso Ndlovu

Minister Mangaliso Ndlovu

Robin Muchetu, Senior Reporter
INDUSTRY and Commerce Minister Cde Mangaliso Ndlovu has blasted retailers who are increasing prices of goods and services saying the price hikes are illegal as there was no justification whatsoever, other than profiteering and warned them to stop the price madness.

The minister was responding to calls by consumers who have been on the receiving end as there was an unexplained increase of many goods in shops and supermarkets throughout the country in the past week.

He said there was no justification whatsoever as to why prices suddenly shot up other than speculative behaviour which had no basis at all. He said he was having marathon meetings with stakeholders in the business sector to get to the bottom of the price frenzy that was hurting the ordinary people.

“The price hikes are not justified at all. People ride on speculation and that is really uncalled for. I urge the retailers to reverse their prices,” he said.

The minister said it was sad to note that manufacturers of the same goods had not increased their prices to guarantee price hikes but the retailers have increased theirs.

“If you check with the manufacturers of the goods and wholesalers too they have not increased their prices and you wonder at what point in the value chain is the price hike effected,” he said.

Minister Ndlovu also bemoaned the fact that some sections of the value chain were operating on speculative basis which he said was uncalled for and unnecessary.

“We are following these events with great concern and hopefully they (retailers) will just get back to proper business ethics and stop this profiteering tendency,” he said.

Meanwhile, the Corporate Capital Consultancy Zimbabwe will host a business forum under the theme “Meet the Industrialists” on  Saturday where the Minister of Industry and Commerce together with his deputy Raj Modi will be the guest speakers.

Speaking to Sunday News, Miss Rejoice Mafukidze, the co-ordinator of the event said all sectors of industry were expected to come and be part of the event.

“This is a forum that we are having which is based on hearing the possible solutions to reviving our industry. We want expert brains in industry throughout the country to come and proffer their ideas on how we can get our industrial hub Bulawayo back on its feet,” she said.

She said it was essential that the citizens get confidence in the captains of industry as they speak out on how best the city could be transformed to be the industrial hub that it used to be in the not far away past.

“It is now time for action and everyone has to be in this bandwagon as we reinvent the industrial hub via this solution making forum,” she added.

The deputy minister Cde Modi said the forum was also an opportunity to have conversations with the captains of industry and hear their success stories and also the operational challenges that they were having and map the way forward.

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  • Explain

    Where are you meeting? At list give usbthe venue

  • Explain

    In Bulawayo everything is a secret at list Rejoice, Modi tell us the venue. So that we can come. We also hear these things after. Explain where you are meeting , time venue we all want to come. In Harare its not a secret but Bulawayo its after the meeting . We want to come for the meeting

    • zibulo

      libuswa ngo Guluva !!!!

  • toaw

    Prices are being hiked because you are an incompetent minister. Wipe the smirk off your face and take the situation seriously.

    • Eduardo

      Are you addressing the issue which the minister is on about or you have your own topic? If so, you are off tangent hence go and fxxx your mom.

      • toaw

        People have increased prices because they are trying to survive. Is that a crime? I will never support these politicians. It’s their incompetence that has left us in poverty.

  • The Observer

    The truth is that ever since the conduction of the elections, the situation on the ground is very unfriendly without any signs of panacea. There is no visibility of a government, except; hunger, suffering and starvation. The once venerated excellent manifestos have been destructed by human forces..we continue, praying for the basic human needs and no-one among the current crop of political leadership has answers!!! Was it necessary to have the elections? Why didn’t have a coalition government comprised of different technocrats from different political parties, the church and traditional leaders, private sector and other relevant organisations after the removal of old big boy?? The elections have badly costed the poor nation in many respects.

    • zibulo

      a coalition govt would have advocated for an auditing of the past situation, causes of it , those involved , and then corrective action. this would have been unavoidable. But then would ZANU have tolerated that ? Criminals still rule and non arrested and jailed.

  • zibulo

    Uyasimangalisa wena Mangaliso. A minister who doesn’t know (or uyazenzisa )of what is called the PRICE MECHANISM ??? Prices are determined by Supply and Demand, and not by coming to zimpapers propaganda paper and “express”dismay at price increases. Price increases are due to Govt-of-the-Day political and Economic policies. Arrest all who caused misery for Zimbabwe, sieze their assets, sieze Graceland, sieze sieze sieze ZANU-style like they did on white men’s farms. Before you Mangaliso , other Ministers have said the same things about Inflation/prices, you grew up seeing and reading such news , so umangaliswa yini Mangaliso. Uyazi uyisimanga impela. you obviously know nothing about your govt’s economic regime , you are just a cosmetic appointment so that kuzothiwa lamaNdebele akhona ku Govt. what have those before you achieved after expressing their surprise like you.

  • chrogic

    Kanti vele what kind of ministers are in this gvt all talk and no action eish we are doomed!

  • matshona zinja

    INDUSTRY BASICS WENA STHUTHU MANGALISO. WHAT MATTERS IS DEMAND AND SUPPLY NOT PRICE. YOU MAKE NOISE AND YOU DONT KNOW WHERE THE RETAILERS ARE ORDERING FROM.