100 % Price Hikes will remain in force, No going back: Ncube defies Mutodi

zim zimbabwe basic food prices news latestZimbabwe Latest Price Rises

ZwNews Chief Correspondent

Alpha Media Holdings (AMH) owner Trevor Ncube says the new cover prices for newspapers under his stable will remain in force, despite the calls by deputy Minister of Information, Publicity and Broadcasting Services not to hike prices.

Ncube says the 100 percent hike cover charges will stay until things change for the better, according to him, this has been caused by the high cost of production, importing raw materials such as inks, newsprint, and printing plates among others.

“We have been absorbing escalating inputs costs for the past few months, but we can’t anymore,” said Ncube through his twitter handle.

His comments come after had been chided by some sections of the society, following his seemingly embracing of the current dispensation. With the deputy Minister of Information Energy Mutodi saying following the government’s directive on unscrupulous business people to stop hiking prices, he expect newspapers not to join the bandwagon.

“The media industry shall never be subject to speculative behaviour under our watch,” Mutodi twitted.

But Ncube says some officials in government understand the pain industry is going through, and are trying to help with accessing foreign currency.

Ncube says the prices for newsprint has gone up by 394, inks by 33, and printing plates by 433 percent respectively. And that because of these overlaying costs, and others, the new cover charges are going to stand for the sake of continuity.

Following the hikes , newspapers under the AMH stable rose by 100 per cent; these are Newsday, a daily now selling at $2, The Standard at $2, and The Zimbabwe Independent both weekly are now selling at $4.