Government has ordered bakers to revert back to the old bread price, following a 10% hike at the weekend.
Industry, Commerce and Enterprise Development minister Mike Bimha announced the move after he met representatives from numerous business organisations in Harare.
“The various stakeholders made their presentations and at the end of these presentations the following was agreed. The bakers will revert back to the old prices with effect from tomorrow (today),the 19th of December 2017,” Bimha said.
He said the National Competitiveness Commission (NCC) will immediately engage the bakers to facilitate a swift resolution of the challenges faced by the industry.
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| Price Of Bread In Zimbabwe Has Been Reduced |
Bimha did not offer tangible solutions to the price escalations for other essential products, but tasked the NCC to deal with the matter.
“They are constraints that industry is facing and these constraints revolves around a number of players in that value chain.
So we need to look on these constraints as they are presented to us. The players will have to make their presentations to the NCC and explain the various constraints not just the intention of looking on prices, but also the issues of viability as an industry,” he said.
Prices of goods continue to go up despite attempts by President Emmerson Mnangagwa’s new administration to inculcate confidence in the economy.
Consumer Council of Zimbabwe executive director, Rosemary Siyachitema applauded the move to reduce bread prices, but bemoaned the hike of other commodities which has become an albatross on consumer’s neck.
“This is a good move for consumers to deal with increases in bread and other issues. This was going to be a headache for them to feed their families during the Christmas period. So to put back the old bread price is good. Consultations are a good thing and no one was consulted (prior to the price hike). Consumers just wake up to see the bread price going up. But also several other products that are in the basket are going up. We cannot buy economy beef at $9 per kg, that is ridiculous. What is happening is madness going on in the market and that needs to change,” she said.
The meeting was attended by representatives from Reserve Bank of Zimbabwe, Confederation of Zimbabwe Industries, Grain Millers Association of Zimbabwe, Bakers Association of Zimbabwe, and Confederation of Zimbabwe Retailers Association.
The Zimbabwe National Chamber of Commerce, Consumer Council of Zimbabwe, National Competitive Commission and Competition and Tariff Commission also attended the meeting.
