Shongedzai Mugwagwa
Following the unwarranted price hikes of basic commodities in the recent weeks, Cabinet has accepted the principles presented by the Ministry of Industry and Commerce to the amendment of the Competition act.
During the post cabinet brief held at the Munhumutapa offices, Cabinet considered the principles which needed to be aligned with the Constitution.
Key provisions of the principles as presented by Information Minister, Hon Monica Mutsvangwa include; “Empowering the commission to levy administrative penalties for companies that violate competition laws, introduction of corporate leniency programme so as to facilitate the investigation of cartels, strengthening the powers of the commission in obtaining evidence during investigations through providing for procedure to be followed...”
The competition act principles will address the issue of unwarranted price hikes which has raised the concern of Government.
Cabinet vehemently warned the unethical business community whose business practice is eroding the value workers’ salaries and inflicting a lot of suffering to all consumers.
In her address, Cde Mutsvangwa said, “It is in this regard that Cabinet welcomes the passing of the Tripartite Negotiating Forum Bill by Parliament on the 23rd of May 2019. This vital piece of legislation is now set to be launched tomorrow (today) by His Excellency President ED Mnangagwa.”
The introduction of TNF together with other measures pursued by Government is believed to protect consumers against wanton price hikes through broad stakeholder collaboration.
Cabinet has also promised to “deepen the social safety nets so as to cushion consumers from adverse effects of the ongoing austerity measures that are meant to reposition the economy on a sustainable path.”
Apart from the pricing issues, cabinet received a report over the fuel and energy supply situation from the Minister responsible, Hon Fortune Chasi that the supply situation of fuel in the country has started to normalise after weeks of winding queues.
On electricity, the Minister informed the Cabinet that “strategies would be implemented to cushion farmers and other critical economic entities from the ongoing drought-induced load shedding.”
