Home LOCAL NEWS Govt Gazettes SI 185 Directing Businesses On How To Display Prices Of...

Govt Gazettes SI 185 Directing Businesses On How To Display Prices Of Their Commodities

The government has gazetted Statutory Instrument SI 185 which stipulates that any person who provides goods or services in Zimbabwe shall display, quote or offer the price for such goods or services in both Zimbabwe dollar and foreign currency at the ruling exchange rate.

Reads the SI:

It is hereby notified that HIS Excellency the President has in terms of section 2 of the Exchange Control Act [Capter 22:05], made the following regulations:

1. The regulations may be cited as the Exchange Control (Exchange Use of Zimbabwe Dollar for Domestic Transaction) (Amendment) Regulation, 2020 (No. 3)

2. The Exchange Control (Exclusive Use of Zimbabwe Dollar for Domestic Transactions) Regulations, 2019, published in Statutory Instrument 212 of 2019 are amended by the insertion of the following section after section 6 –

“Dual pricing and displaying, quoting and offering of prices for goods and services

7. (1) Any person who provides goods or services in Zimbabwe shall display, quote or offer the price for such goods or services in both Zimbabwe dollar and foreign currency at the ruling exchange rate.

(2) Any person who contravenes subsection (1) shall be liable to-

(a) a category 1 civil penalty if the contravention is completed but irremediable; or
(b) a category 4 civil penalty if the contravention is a continuing one”.

Also Read: THINGS YOU MIGHT NOT KNOW ABOUT GINIMBI

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