Zambia Consumer Association, ZACA, has welcomed government plans to enact a legislation that will help discourage dollarisation in all domestic transactions.
ZACA Executive Secretary, Muyunda Ililonga, told ZANIS in an interview today that the association was happy that government responded positively to calls for legislation to discourage business houses from quoting prices of goods and services in foreign currency.
Mr. Ililonga said the current trend where most goods and services were being priced using the value of the US dollar subjected the consumers to exploitation.
Mr. Ililonga noted that dollarisation of domestic transactions should be discouraged at all costs as it undermines the dignity of the kwacha.
He said there was need for the dignity of the local currency to be upheld in all the domestic transaction as opposed to the current situation where the dollar was being used to quote prices whenever the Kwacha depreciated against the world’s major currencies.
He further said Zambia was a sovereign state which could not allow the alien currencies such as the dollar to determine and influence its domestic market forces.
Government announced on Wednesday that it would introduce a legislation that would stop dollarisation in the country.
The quoting of the dollar in domestic transactions is said to have influence on the current exchange rate which has seen the kwacha lose its strength against the major currencies.
ZANIS/ENDS/MP/SJK.