Zimbabwe to crack down on businesses using black market rates this week

*THE DEPUTY MINISTER OF FINANCE AND ECONOMIC DEVELOPMENT (HON. CHIDUWA):  Thank you Mr. Speaker Sir.  It is true that most businesses use the implied exchange rate which is different from the auction rate.  We have a special committee which is comprised of different stakeholders like the Consumer Council of Zimbabwe, the ZRP, the business community and others.  From this coming week, we will be having a programme which identifies different exchange rates.

THE HON. SPEAKER:  Hon. Minister, can you speak in Shona exclusively.

HON. CHIDUWA:  From this coming week, we will be monitoring different businesses around the country to identify offenders.  We have a number of contact details where the public can communicate such unscrupulous activities.  Thank you.

*HON. KARENYI:  Thank you very much Mr. Speaker Sir.  Let me pose my supplementary question to the Deputy Minister.  Right now most chain stores use different exchange rates, for example Spar, OK and other chain stores.  As a Ministry, are you going to entertain such behaviour?  This has been happening for quite some time now.  The Hon. Minister informed the House that they will be carrying out this exercise.  However, when you leave this House Hon. Minister and go to OK, they have their own prices and if you go to Spar they have their own unique pricing.  How long are you going to allow this to continue?  Those who are in informal trade also have a different pricing system.  Those who are at Roadport have their own exchange rate.  This august House has enquired several times on the policy issues surrounding the black market.  We need clarity on such issues.  The question that we have to ask is – how come we have new bank notes at Roadport?

*HON. CHIDUWA:  Thank you for such a pertinent question.  Yes, it is true that it might seem as if we have delayed addressing this issue.  However, we deployed people around the country so that they monitor the situation.  Some were engaging shop owners.  In two of the shops that you mentioned, you will discover that they are using the auction rate.  However, Spar has its own rate but OK is using the auction rate.  Those who are in the informal sector use a rate which they get from the variety chain stores.  As Government, we are going to start with the big chain stores.  Thank you.

*HON. NDUNA:  Thank you Mr. Speaker Sir.  Hon. Members of Parliament normally stay in hotels.  There are different rates that are used in hotels.  Some are using the auction rate but others do not.  The question is; is it possible for Government to start with hotels and engage hotel owners, particularly addressing that issue?

*HON. CHIDUWA:  Thank you Hon. Speaker. The issue at hand is an issue that affects all of us here.  My request to members of this august House and the rest of the country is that the people who engage in black market activities are people we live with.  So, let us tell our people to report such behaviour.  As Government, we will continue pursuing the programme that I spoke about.  The question that was asked by the Hon. Member is a question that I can respond to in the same manner that this coming week you will see with the response that Government is going to give on the ground.  Thank you.

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