Ministerial Taskforce on Price Monitoring and Stabilisation Makes Remarkable Progress.

In an effort to curb unrealistic price increases on the local market, Cabinet appointed an eight-member Ministerial Taskforce on Price Monitoring and Stabilisation on the 19th of June 2007. The Taskforce, which is chaired by the Minister of Industry and International Trade, comprises of Ministers of Finance, Small and Medium Enterprises, Home Affairs, Ministers of State for Policy Implementation, Enterprises, Anti-Monopolies and Anti-Corruption, Indigenisation and Empowerment and the Minister Without Portfolio.

The Taskforce was tasked with ensuring that all price increases are justified with a scientific pricing model, that diversion of scarce goods from the formal market to the parallel market is curbed and speculative price increases are reversed. Ultimately, the Taskforce was mandated to ensure the establishment of a transparent and objective pricing mechanism throughout the supply chain.

To date, the Taskforce has made remarkable steps in curbing corrupt tendencies among business people. Working together with Security Ministries, the Taskforce has managed to unearth many businesses which were charging unrealistic prices and making enormous profits at the expense of consumers who were consequently finding it increasingly difficult to cope. Such price increases were in blatant disregard of the recently signed Incomes and Pricing Stabilisation Protocol of the Social Contract.

Government, Business and Labour recently signed protocols which demand that prices should be arrived at using the proper formulas.

Having realised that some individuals were hoarding basic goods from shops and then reselling the goods at inflated prices on the parallel market, the Taskforce also outlawed bulk buying amongst consumers.

The Taskforce has however spawned a new challenge which has seen dishonest manufacturers and retailers withholding supplies away from the retail shelves apparently in protest at the new government-stipulated prices. The Government has consequently announced measures to compel these retailers to make the commodities available once again.

The challenges notwithstanding, as a result of the commendable work done by the Taskforce, consumers in Zimbabwe can now sleep in peace knowing that they will find basic goods in regulated places, at affordable prices and that those who dare defy Government regulations against hoarding and unjustified price increases will face the wrath of the law.