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Govt Reverses Suspension Of Duty As Company Price Products "Exclusively In Foreign Currency"

Govt Reverses Suspension Of Duty As Company Price Products

The Ministry of Finance and Economic Development has reversed its decision to suspend the duty on imported oranges and grapefruits. In a letter seen by Pindula News, Finance Secretary, George Guvamatanga told Beitbridge Juicing (Pvt) Limited that all consignments that are going to be imported will, with immediate effect, be liable to duty at prescribed rates. Reads the letter:

Mr. C. Msipa Managing Director Beitbridge Juicing (Pvt) Limited


Reference is made to the above-mentioned subject.

As you would be aware, Treasury, on 1 July 2022, provided a once-off suspension of duty facility for your company to import 10 000 MT of oranges and 5 000 MT of grapefruits. This measure was expected to augment local supplies, thereby minimising supply disruptions, as well as guaranteeing affordable prices to the general public.

Treasury, however, notes that the pricing of your products is now exclusively in foreign currency, notwithstanding Government’s initiatives to promote the use of local currency. You will be aware that beneficiaries of tax incentives are expected to complement Government’s interventions with responsible pricing models with a view to ensuring affordability of goods, which is key in achieving Government’s developmental objectives.

In view of the above, I wish to advise that, pending conclusion of investigations on your pricing model, the Suspension of Duty Facility has been revoked.

In this regard, all new imported consignments will, with immediate effect, be liable to duty at prescribed rates.

Pindula News

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...? 1 month ago

ok so in other words who is going to feel it the most the manufacturer or the consumer ?

pikinini bass 1 month ago

policy reversal is now the norm.nothing is certain.

Sir 1 month ago

Kana nyika ikatongwa nemaS.I. asiri consistent seizvi can they invest in such a senerio.Pathetic.

Yoweeeeee 1 month ago

High time we had a Ministry of Statutory Instruments with a department of Policy Reversals ably led by a degreed Principal Director

Jah🇿🇼Tsvarie-07 1 month ago

This country has no laws and with such there is no vision 2030, which investor can put money in a lawless country 😂
The Gono regime is back whn policies could change not over night but inside one second, i used to think economists were those with foresight 🤔
when i passed by some truck drivers today, i head one saying he had come to deliver goods in Zimbabwe and will be going to some farm to collect oranges taking them to South Africa, i was like okay its export nice 😂 but now its orange imports on agenda haah criscross...

dispenser 1 month ago

version less leader . Today this tomorrow that contradicting yourself. Then what cld be our future

Vax 1 month ago

Zvariri game ranaKapfupi. naMarabha kkkk Gore rino tichaonerera Zimbabwe rave bhasikiti raTizirai , uku rinorukwa uku richirudunuka


G... V..... 1 month ago

Not the brightest bulb in the room.

Gafa 1 month ago

kurikuindiwa hapana kkungotenderera.clueless

xyz 1 month ago

Angaenda kunohodha kunze ne forex odzoka nezvinhu otengesa nertgs ndiani,it's time these guys throw in the towel.We would applaud.

Kudakwashe Marongedza 1 month ago

Who deserves the French Award now the Public speaker or the Zambian Minister Minister🤔.

🅼︎🅰︎🆁︎🅰︎🆅︎🅰︎🆉︎🅰︎ 1 month ago

𝗦𝗼𝗺𝗲 𝗰𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀 𝗮𝗿𝗲 𝘁𝗵𝗲 𝘄𝗼𝗿𝘀𝘁 𝗲𝗻𝗲𝗺𝗶𝗲𝘀 𝗼𝗳 𝘁𝗵𝗲𝗶𝗿 𝗼𝘄𝗻 𝗷𝘂𝘀𝘁 𝗯𝗲𝗰𝗼𝘇 𝗼𝗳 𝘁𝗼𝗼 𝗺𝘂𝗰𝗵 𝗽𝗿𝗼𝗳𝗶𝘁𝗲𝗲𝗿𝗶𝗻𝗴, 𝗶𝗺𝗽𝗼𝗿𝘁 𝗱𝘂𝘁𝘆 𝗶𝘀 𝘀𝘂𝘀𝗽𝗲𝗻𝗱𝗲𝗱 𝗼𝗻 𝘁𝗵𝗲𝗶𝗿 𝗯𝗲𝗵𝗮𝗹𝗳 𝘁𝗼 𝗴𝗲𝘁 𝘁𝗵𝗲 𝗺𝘂𝗰𝗵 𝗻𝗲𝗲𝗱𝗲𝗱 𝗿𝗮𝘄 𝗺𝗮𝘁𝗲𝗿𝗶𝗮𝗹𝘀 𝘁𝗵𝗲𝗿𝗲𝗮𝗳𝘁𝗲𝗿 𝗰𝗵𝗮𝗿𝗴𝗲 𝘁𝗵𝗲𝗶𝗿 𝗽𝗿𝗼𝗱𝘂𝗰𝘁𝘀 𝗶𝗻 𝗨𝗦 𝗱𝗼𝗹𝗹𝗮𝗿𝘀. 𝗧𝗵𝗲 𝗴𝘃𝘁 𝗵𝗮𝘀 𝗷𝘂𝘀𝘁 𝗱𝗼𝗻𝗲 𝘁𝗵𝗲 𝗿𝗶𝗴𝗵𝘁 𝘁𝗵𝗶𝗻𝗴 𝘁𝗼 𝗿𝗲𝘃𝗼𝗸𝗲 𝘁𝗵𝗮𝘁 𝘀𝘂𝘀𝗽𝗲𝗻𝘀𝗶𝗼𝗻.

momo 1 month ago

you have no brain complementingtheo move by the government, the move will create another problem of priceincreaseomn on top of RTgs rejection

CCC 1 month ago

Result=no rtgs +an iincrease in US prices

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