Economy

Agency Predicts Price Rise after Rebasing

Kwacha RebasedThe Consumer Unit Trust Society International (CUTS) Zambia says a price rise in commodities is expected following the rebasing of the kwacha.

CUTS programme officer Tommy Singongi says this is because most business houses have incurred extra costs following the changing of their systems.

Singongi however states that what will be illegal is the manipulation of prices by the retailers.

He says it is important to ensure that all retailers and business communities display tallying prices, both in the old and new currency.

He further states that the Bank of Zambia should not relax, but should vigourously continue sensitizing the public on the rebasing of the currency to avoid consumers being manipulated.

Singongi adds that the central bank should also not limit itself to the six months of sensitization but should continue with the sensitization programme even after June, when the old currency will be phased out completely.

Source: Qfm

 

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