“You Can’t Put the Burden on Government”: President Mnangagwa Breaks Silence on Recent Price Hikes
President Emmerson Mnangagwa has addressed the issue of recent price hikes in Zimbabwe, shedding light on the government’s role in managing the situation.
President Mnangagwa Outlines Government’s Role in Price Determination
When questioned about measures his administration is taking to safeguard the public from price increases, President Mnangagwa emphasised that it is not the government’s responsibility to dictate commodity prices in a free market.
He underscored that in a democratic and free market environment like Zimbabwe, prices are determined by sellers and producers. He further clarified that Zimbabwe is not a socialist country. To illustrate his point, President Mnangagwa used the example of orange farmers.
President Mnangagwa explained that when different farmers decide to sell their oranges, one at a higher price and another at a lower price, the one selling at the cheaper price is likely to generate more sales and revenue. He said that in a democratic and free market economy, the government cannot bear the burden of controlling prices. Instead, prices should naturally find their levels through market forces. He added that the alternative approach would involve introducing socialism, where the government determines prices for goods such as oranges. However, he expressed that Zimbabwe has moved beyond that stage.
Also read: Fueling Doubts: Zimbabweans React As RBZ Says New ZiG Currency Cannot Buy Fuel At Service Stations
President Mnangagwa Outlines Government’s Vision
President Mnangagwa concluded that under the current system, individuals are free to sell their products at any price they choose. However, the market will ultimately determine the value of the product. According to the President, this is the direction Zimbabwe is heading and the approach being pursued.
“I think in a democratic setup, in a free market setup, you can’t put the burden on Government. Prices must find their levels in a free market. Unless you want us to introduce socialism and determine if grow an orange then we give it a price. But I think we are beyond that now. If you grow your oranges you can sell them at the price you want and if another person is selling the same oranges; the one selling his oranges cheaper will be bought and yours which are expensive will not be bought. So the market will determine the price of an orange. This is where we are going., This is what we are doing,” President Emmerson Mnangagwa explained.
Video of President Mnangagwa Speaking on Price Hikes
You can watch the video of President Emmerson Mnangagwa speaking on price hikes below:
H.E. President @edmnangagwa comments on price hikes. pic.twitter.com/v9QfZvWGAc
— Presidential Communications Zimbabwe 🇿🇼 (@DeptCommsZW) April 11, 2024
Follow Us on Google News for Immediate Updates
The post “You Can’t Put the Burden on Government”: President Mnangagwa Breaks Silence on Recent Price Hikes appeared first on iHarare News.
Zim Instantly via Simplex Solutions