Govt Warns Against Unnecessary Price Hike Following Devaluation Of Kwacha

Government through the Ministry of Trade has sent a strong warning to business community in the country against holding goods with an aim of creating shortage and subsequently charging unfair and excessive prices for various essential consumer goods.

Minister of Trade, Sosten Gwengwe sent the warning through a press statement seen by this publication, according to Gwengwe, following the devaluation of the country’s currency by 25 percent, business community has resorted to hike prices of necessities unreasonably.

According to Gwengwe, his ministry will be carrying out monitoring activities throughout the country and will not hesitate to take drastic action to deal with traders engaging in prohibited malpractice.

He therefore called on manufacturers to provide and publish their recommended price of their goods sold on the domestic market in order to guide the consumers accordingly.