1.0 UPDATE ON ADDRESSING PRICE HIKES OF ESSENTIAL GOODS AND SERVICES
Cabinet received a report from the Committee investigating price hikes of essential goods and services, which was presented by the Minister of Industry and Commerce, Hon. Sekai Irene Nzenza.
As the nation will recall, last week Government pronounced Measures to Stabilize the Exchange Rate and the Macroeconomic situation. Notable in that announcement is that the importation of basic commodities will no longer be subject to import duties, in order to enhance supply and availability of commodities at competitive prices.
Government continues the task of promoting local industry, quality, standards, and competitiveness, while endeavoring to protect consumers from unfair trade practices. In this regard, the manufacturing sector has shown a positive trajectory with capacity utilization currently at 66%, from 36% before COVID-19 and shelf occupancy at 80%, from 47% before COVID-19.