Mthuli Ncube threatens businesses pricing goods using black market rates

Finance minister Mthuli Ncube has warned businesses pricing their goods and services using black market rates that their licences will be withdrawn.

He also says random audits will be carried out on corporates by the Zimbabwe Revenue Authority (ZIMRA) to force compliance.

Meanwhile, the official exchange rate is US$1:Z$88.5, however, some corporates are using rate of up to US$1:Z$200, according to authorities, it erodes of salaries and fuels inflation.

Meanwhile, a survey conducted by this publication in Epworth’s Chiremba Shops indicated that traders are indeed using black market rates.

Apparently, Norton independent Member of Parliament, Temba Mliswa recently urged the government to put economic fundamentals right.

Mliswa says chasing after traders who are running forex trading will not solve anything.

Zwnews