Import licences on seven grocery items removed

By Stanley James, Business Editor

The government has removed import licences for seven commodities as more measures to contain prices and increase product availability continue to be unveiled.

The new measures, which were revealed in a Government Gazette issued by the Ministry of Industry and Commerce under Statutory Instrument 103 of 2022 this Friday, are also aimed at restoring macro-economic stability.

The measures are also being aimed at easing inflationary pressures, restoring the buying power of the local currency with the main thrust being to increase local and external competitiveness of the economy.

Products that will now be imported without any need for import permits or licences are sugar, milk powder, infants milk formula, petroleum jelly, bath soap, laundry bar and washing powder.

In a recent interview Finance and Economic Development Minister Professor Mthuli Ncube explained commitment by government to cushion Zimbabweans from local and external  economic shocks.

“Macro fiscal stabilisation has been achieved largely through fiscal consolidation and the resultant attainment of both fiscal balance and stabilisation of the current account, as well as increased domestic production of goods. Government is therefore grateful for and fully recognises, the sacrifice and cooperation of all Zimbabweans in the ongoing effort to stabilise the economy, which is now on a firm foundation for growth,” said Professor Ncube.

The latest developments are being made after government suspended  import duty for 15 basic commodities for the next six months.

The post Import licences on seven grocery items removed appeared first on ZBC NEWS.

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