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Saturday, August 8, 2020

Reduce prices following Kwacha gains-CCPC

Economy Reduce prices following Kwacha gains-CCPC

Competition and Consumer Protection Commission
Competition and Consumer Protection Commission

The Competition and Consumer Protection Commission says businesses need to adjust the prices of goods and services downwards in tandem with the appreciation of the Kwacha.

CCPC Executive Director Chilufya Sampa said the commission welcomes the appreciation of the kwacha as this is a sign that will go a long way in instilling confidence in the country’s economy.

Mr Sampa said it is clear that the country has suffered shocks such as high prices of goods and services, arising from the depreciation of the kwacha.

“Traders and businesses out there need to reduce the prices of goods and services in order to allow consumers to also enjoy the benefits of the appreciation of the kwacha. failure by traders and businesses to reduce prices of essential commodities will negatively impact consumers who have already been paying exorbitant prices for goods and services,” Mr Sampa said.

“It is not the mandate of the commission to effect price controls, but notwithstanding, we are monitoring and undertaking spot checks on prices of essential commodities in all provinces. anyone found to be exploiting consumers will be dealt with accordingly.”

Mr Sampa said the Commission also calls upon the millers to sell the staple commodity at a fair price.

“It is unfair for the millers to continue selling mealie meal at high prices especially when government has effectively been subsidizing the production of the mealie meal input.”

He said the Commission is appealing to all traders and businesses to ensure that the benefits of the kwacha appreciation trickle to the consumers.
“After all, without consumers no trader or business would exist,” he said.

7 COMMENTS

  1. Mr. Sampa
    The Kwacha is losing value again. Should the business houses increase the prices again or allow market forces determine that? Slow down boss

  2. This call is long overdue. Huge opportunity was missed in particular last year when prices of fuel went down, which is a key factor in business. Had this been made that time it could have been a different story for Zambia now. Govt and Parastatal services should lead the way, Road Tax, Fitness, Driving License, Postal Services, all Licensing fees by PACRA and other statutory bodies. Mr. Sampa your co-operating advice is timely rather Statutory Instruments.

  3. One Step at a Time. Patriots should let the Gov’t have a Surplus on GDP before we start with demanding consumer benefits. We need the gov’t to create a healthy balance as the Kwacha begins to recover.

    Why do people not realise that we each and all have a part to play in our economic recovery. We are not children waiting on Mummy and Daddy to sort it for us.

    • In the mean time we should apply that same consideration to our fellow citizens on a daily basis if we provide services or have businesses that other use.
      My charitable act as administrator of my mothers estate was to gave kindness to all of my mothers tenants in her business and rental accommodations. I gave them 3 months of free rentals, a decision I took after I nearly cried when I saw the heartless way they had been treated by previous administrator that eat all the rents and did no repairs. I saw the poverty they were struggling with.

  4. See what that si.lly dollarization of your Kwacha does. Even vendors who sell masuku and fikolowa believe the dollar is at play. You can’t make this up! It is a Zambian phenomenon.

  5. Most of our goods are imported from RSA and the Rand has been doing badly for some time but the Shop Rite cartel has never seen it fit to reduce the prices of their goods but it was very quick in increasing the prices when the Kwacha depreciated. Dr Guy Scott commented on it some time back.

Comments are closed.

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