The cabinet, during a meeting in Harare yesterday, resolved to temporarily amend the Statutory Instrument 122 of 2017 (SI 122) to allow the importation of basic goods currently in short as panic buying continues in Zimbabwe.
SI 122, also known as Control of Goods, requires one to have a license to import basic commodities produced in the country.
“Following presentation of an update report by the Minister of Industry and Commerce on the prevailing price situation and availability of fuel, Cabinet noted with concern that the basic commodities continued to be in short supply despite reflecting persistent punic and speculative buying of the commodities by the members of the public,” cabinet members told journalists. “The continuing increases in prices effectively pushes the commodities beyond the reach of many of our people.”
“Cabinet further observed that owing to panic and speculative buying, products which used to be sold over a month are now being sold in just three hours time, a situation which is completely unsustainable.”
Besides amending SI 122, the cabinet resolved that the government through the Reserve bank of Zimbabwe (RBZ) should support the productive sector through foreign currency allocation to ensure that they adequately stock up for the upcoming festive season.
More resources shall be channeled towards primary production particularly agriculture, with focus on soya beans and wheat.
The Cabinet also resolved that efforts are to be taken to improve logistics for fuel supply.
Another resolution is that the Bank Use Promotion Act which outlaws the three-tier pricing system should be enforced forthwith.
In an interview with bhizimusi.com last week, Confederation of Zimbabwe Retailers (CZR) president Denford Mutashu had suggested the opening of borders for 2 weeks to allow the importation of goods in Zimbabwe as a way of resolving the commodity shortage challenge.
Commodities involved under the SI122 amendment include the following:
Animal oils, fats (lard, tallow, and dripping); baked beans; body creams; bottled water; cement; cereals; cheese; coffee creamers; cooking oil; crude soya bean oil; fertilizer; finished steel roofing sheets; wheat; flour; ice cream; jams; juice blends; margarine; mayonnaise; packaging materials; peanut butter; pizza base; potato crisps; salad creams; shoe polish; soap; sugar; synthetic hair products; wheelbarrows; wheelbarrow parts; yoghurts; agrochemicals; and stock feeds.
