Mnangagwa says no price controls, licences will just be revoked

President Emmerson Mnangagwa today said his government will not introduce price controls but businesses refusing to accept bond notes will have their licences revoked.

He had, however, instructed Industry and Commerce Minister Mangaliso Ndlovu to negotiate with the businesses first.

Addressing a “thank you” rally in Mashonaland West, Mnangagwa said the same applied to pharmacies that were demanding payment in foreign currency when they were being provided foreign currency by the Reserve Bank of Zimbabwe.

Prices of most commodities rocketed after the monetary and fiscal policy announcement of 1 October and some businesses are demanding payment in US dollars.

Others have introduced a three-tier system with different prices for those who pay in US dollars, bond notes and electronic money.

Finance Minister Mthuli Ncube said on Thursday those charging US dollars have to pay their taxes in US dollars. This includes those applying a three-tier system because their primary currency is the US dollar.

Ncube also said those importing vehicles for personal use, except the disabled, have to pay duty in foreign currency but he gave those who imported vehicles before 22 November six weeks to clear them.

He also listed dozens of products which include foods, vegetables and perfumes, whose duty will be paid in foreign currency.

Mnangagwa and his deputy Constantino Chiwenga said the time for politics was over. It is now time for business and dialogue and ground-breaking ceremonies are kicking off next week.

Chiwenga, who has often said to be in a power struggle with Mnangagwa with one report saying he will take over before 2023, said Mnangagwa was their leader and would lead the party in the next election.

If he contests this will his second and final term unless the party amends the national constitution.

Chiwenga told the gathering that there were no vacancies and those who were dreaming of ruling this country should forget it and concentrate on developing the country so that it becomes an upper middle income country before 2030.

Mnangagwa’s other deputy Kembo Mohadi did not attend the rally. The President said he had gone to attend his sister’s funeral.

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