Why Zimbabwe requires businesses to display prices in Zim and US dollars


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*HON. B. DUBE: Thank you Hon. Speaker.  I think the question was how will you know that the retailer sold goods in forex because all the receipts are in RTGS?  That is where our issue is.  Even if you are looking forward to receiving tax in forex, how will you know how much they sold in forex because by the end of the month, you will be given receipts in RTGS while they keep the forex.  That is where we need clarification from the Hon. Minister.

 HON. PROF. M. NCUBE:   I thank the Hon. Member for that follow up supplementary question.  If the retailers are producing receipts in RTGS having conducted transactions in US dollars, that is illegal and indiscipline.  We will follow up on it and enforce the law because they are breaking the law.  That is why we want to send our inspectors around from ZIMRA to make sure that we catch them and the law can be enforced.  Thank you very much.

HON. CHIKWINYA:  Madam Speaker, the Hon. Minister speaks of a dual regime of accepting RTGS and US$.  Government departments, in particular the Ministry of Transport and Infrastructure Development, through the CVR, is refusing to accept RTGS even at interbank rate for the purposes of paying for number plates.  Is it your instruction that a government department refuses to accept RTGS, our own local currency?

HON. PROF. M. NCUBE:  Madam Speaker, that is a new question but I will still answer it with your permission just for the record.  Certainly it is not my instruction.  Thank you very much.

HON. MADZIMURE:  Madam Speaker, the Minister has said he is ignorant of what is happening at a government institution.  CVR is a Government institution which works hand-in-glove with ZIMRA.  Is the Minister really ignorant that CVR is refusing people to pay in RTGS and they accept only US$?  As a Member of Parliament, I actually paid in US$ and I was denied the right to use RTGS.  Is the Minister saying he is not aware and does not know what is happening in his department because this was a policy decision that was made?  Is he saying CVR made its own unilateral decision?

THE HON. DEPUTY SPEAKER:  Hon, Madzimure, on that one, I think we can give the Hon. Minister the chance to investigate.  He said he is not aware.

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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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