'Customs clearing goods in US dollars will lead to price hikes'

HARARE - Payment of duty in US dollars is now necessary to get your parcel into Zimbabwe.

Finance and Economic Development minister Mthuli Ncube has said the following goods must go through Customs to be cleared in US dollars, regardless if you are a first-time importer or business regular.

Economists are warning that these new regulations will significantly push up consumer prices and limit bargain sales that have become synonymous with the festive season in supermarkets.

Cumulatively, Zimbabweans import on a net basis $18 billion worth of goods, so this intervention could be a cash cow for government.

Comments (3)

I think it is noble idea to tax only luxury goods in USD that are imported in Zimbabwe which are enjoyed by upper class. In general sense,those goods does not affect overhaul pricing even though priced at high price.If Zimbabwe need to be better future it must not encourage unnecessary import or banning them but charge duties in USD and allow raw materials to be RTGS and Bond notes

Hope - 24 November 2018

it is dishonest for the government to introduce backdoor re dollarisation when it favours it...what is good for the goose is good for the gander..government employees and a majority of workers are paid in pseudo currency, while the same government demands real money for otself, really?..the government raided people s usd savings in the commercial banks through the ridiculous 1 :1 tale. this was in fact state sponsored robbery in a mega scale. if not, this is the time to redeem all rtgs and bond in at 1:1, then we go back to dollarization openly. these moves will further erode the citizens' earning and fuel inflation....as if anyone cares.

alternative - 24 November 2018

kune vanhu vachatsva vachifamba ne mwoyo weutsinye wakadai. kuitira nekufungira hama yako zvakaipa misi yose .masiyana pai nevamairwisa musango

charera - 25 November 2018

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