Zera, Zesa trigger price madness

Zera, Zesa trigger price madness
Published: 07 October 2019
PRICES of basic commodities, including fuel, and services continue to soar days after President Emmerson Mnangagwa threatened to introduce the Competition Act to impose deterrent penalties to combat what he termed business malpractices.

And government itself is taking the lead in hiking prices; with the Zimbabwe Energy Regulatory Authority at the weekend announcing steep fuel price hikes of 27% for petrol and 25% for diesel, while power utility, Zesa, announced shock electricity tariff hikes of over 200% against stagnant salaries.

The latest fuel price hikes announced at the weekend immediately triggered a fresh wave of price increases.The Zimbabwe National Water Authority also wants to hike water charges by 400%.

A visit to different supermarkets by NewsDay revealed shocking prices, with a 2kg packet of roller meal costing $14, while 10 kg now costs $54.

The price ranges for a 2kg pack of rice are $30 to $50 depending on the brand, while 2kg sugar now costs more than $30.

During his State of the Nation Address (Sona) in Parliament last week, Mnangagwa said his government was in control of things despite that just last month the International Monetary Fund adjudged Zimbabwe's inflation levels of 300% as the highest in the world.

"Government has noted with