Home » Business » ZIMBABWE SETS UP COMMITTEE TO MONITOR IMPACT OF IMPORT BAN

Zimbabwe's Industry and Commerce Minister, Mike Bimha, has set up a 14- member committee to monitor and evaluate the impact of import restrictions on the performance of local industry.

The Zimbabwe government introduced Statutory Instrument 64 this year to regulate the importation of certain basic goods which are locally available, a move which some quarters have criticized.

However, the government is adamant that the move will benefit local industry in the long term and has emphasized that the regulations are time-bound and will not last forever.

SI 64 makes it a requirement for businesses to have an import permit to bring into Zimbabwe goods such as furniture, bottled water, baked beans, salad cream, peanut butter, doors, window frames and a variety of plastic pipes.

Individuals who want to import the affected goods for personal use are still allowed to do so without a special licence.

Bimha told the media here Wednesday that the committee is tasked with monitoring the employment that the import restrictions had generated, assessing re-tooling taking place in various sectors, monitoring the growth in capacity utilization as well as the impact on prices of goods.

He said the team would also evaluate efficiency of local companies and impact on quality of produced good, monitoring the small to medium enterprises graduation and encourage exports of surplus products.

"The committee will be expected to report to the Ministry regularly, updating us on the impact of the instruments," he said.

Source: NAM NEWS NETWORK.

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