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The President is right

14 Dec 2019 at 08:38hrs | Views
Recent statements by  President  Mnangagwa that Zimbabwe would not go back to use of multi-currencies should be applauded. The use of in particular the greenback brought misery than benefits.

In every policy there are advantages and disadvantages.

When businesses, local authorities and other various entities started pegging their prices or services in US$ the amounts were just ridiculous.l think the economists (l don't know much about Economics) should look at this issue on a broader scale as well as educate the people the value of the US$ against other currencies.

I will use one or two examples were the charge in US$ became just a nightmare. Firstly, local authorities started charging their services in amounts one would wonder if they were sane people. lmagine a household in low density receiving a monthly bill of say US$120 plus for water and rates. The water would not be available on some days but this is what Gweru city council charged the residents.

Schools could not be left behind as the school fees were now in the greenback but at astronomical figures. What US$ 400 was paying for fees at an exclusive private school like Falcon College in early 2000 for foreign students was now the fee for a run down secondary school.

Rentals for commercial purposes went beyond affordability for one trying to establish in a business. Not to be outdone were rentals for accommodation.

Well, l would go on and on about why we need our own currency. The use of multicurrency is never the solution, let the economists come with solutions instead of advocating return of the greenback.

Zambia, Mozambique to mention our neighbors went through the phase of using their kwacha and metical even when the economy had gone bad.

Our service providers always want a comparison with our neighbouring countries when they want to raise prices. ln South Africa, for instance, monthly water charges were water is available throughout is not more than 600R, do the maths and see how the local authorities were fleecing people.

People are being threatened with legal action from TelOne, Zesalocal authorities when they were overcharging consumers .

Thumps up to the President on this one, those who yearn for foreign currency seek jobs in diaspora. At peak of multicurrency use some in the local authorities were awarding themselves salaries compared only to developed countries .

Source - A Kadada
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