Monday, 20 June 2016

GOVT : IMPORT BAN TEMPORARY

The government says the import ban on certain foreign products is only temporary.

It said the temporary control measures on the importation of some foreign goods are designed to increase production by domestic industries.

The recently gazetted import regulations for selected imported products under statutory instrument 64 of 2016 have created anxiety among members of industry and commerce over government’s policy to increase availability of goods at affordable prices.

The Minister of Industry and Commerce, Cde Mike Bimha told the ZBC News that while current imports will not be affected by the regulations which will be effected next month.

"The regulation comes into effect next month, when the importation of some commodities in the statutory instrument will now require the granting of permits. We expect the local industry to capitalise on this and increase production. It is high time that the industry should focus on increasing availability of goods,” said Cde Bimha.

"The government will in the near future review importation of some goods within the statutory instrument," the minister added.

Zimbabwe National Chamber of Commerce (ZNCC) President, Mr Davison Norupiri concurred with Cde Bimha on the need for local companies to increase output.

In a related development, Zimbabweans' appetite for foreign goods continue to increase as data from the Zimbabwe National Statistics Agency (ZIMSTAT) shows that imports cost the economy US$1,1 billion in the first five months of this year.

80 percent of the imports are consumable foreign commodities.

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