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The recent volatility in import tariff prices
is a cause for concern. It has sent business into a spiral of confusion, and
the Ministry of Finance should move to rectify the issue.
In a normal situation tariffs are a means by which governments should raise revenue. Arguably foreign products entering through the country’s borders have to undergo this measure.
Tariffs offer the government the reassurance that local products are not losing out to foreign products.
The dilly dallying by the Finance Ministry on import tariffs has harmed the ordinary business. The Minister has suddenly developed a system of trial and error with regards to import duty.
This inconsistency affects businesses and firms in the country. The constant imposition and reversals of duty on clothing, shoes and some foodstuffs affects not only the ordinary person but business at large in the short term at a time when business needs to grow from the economic downturn.
Although it is an honest attempt to try and stamp corruption and protect local business by creating space for local business within Zimbabwe and discouraging ‘free’ trading by foreign firms
Economic sanctions have also crippled Zimbabwe business because of too much political involvement in the economy. But, if all the goods from foreign companies are banned there will be no goods on most of our shelves.
Industries are already performing at below capacity, improtation of goods alows some self emplyed individuals to maintain an income to support thire families.Either way importation of these goods is a necessary evil.
For now honourable Minister Tendai Biti should wait for Zimbabwean business to get back on their feet and increase tariffs when need arises.
In a normal situation tariffs are a means by which governments should raise revenue. Arguably foreign products entering through the country’s borders have to undergo this measure.
Tariffs offer the government the reassurance that local products are not losing out to foreign products.
The dilly dallying by the Finance Ministry on import tariffs has harmed the ordinary business. The Minister has suddenly developed a system of trial and error with regards to import duty.
This inconsistency affects businesses and firms in the country. The constant imposition and reversals of duty on clothing, shoes and some foodstuffs affects not only the ordinary person but business at large in the short term at a time when business needs to grow from the economic downturn.
Although it is an honest attempt to try and stamp corruption and protect local business by creating space for local business within Zimbabwe and discouraging ‘free’ trading by foreign firms
Economic sanctions have also crippled Zimbabwe business because of too much political involvement in the economy. But, if all the goods from foreign companies are banned there will be no goods on most of our shelves.
Industries are already performing at below capacity, improtation of goods alows some self emplyed individuals to maintain an income to support thire families.Either way importation of these goods is a necessary evil.
For now honourable Minister Tendai Biti should wait for Zimbabwean business to get back on their feet and increase tariffs when need arises.
I agree this dilly dallying is uncalled for. the problem is we do not research to find out the best action to take is such scenarios in order to make sure the do not create more problems. we just take decision based on that we the leader and we can take that decision unopposed. we want people to feel that we are leaders which is not necessary.
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