Zimbabwe

Govt Announces Incentive For Grain Farmers, Reduction Of Duty On Groceries {Full Text}

Govt Announces Incentive For Grain Farmers, Reduction Of Duty On Groceries {Full Text}

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Finance and Economic Development Minister Mthuli Ncube has issued a statement outlining measures to ensure the continued availability of basic commodities on the market as well as to reward farmers for early delivery of grain to the GMB. Pindula News is publishing the statement below:

MEASURES TO IMPROVE THE AVAILABILITY OF BASIC COMMODITIES AND INCENTIVISE FARMERS FOR EARLY GRAIN DELIVERIES TO THE GRAIN MARKETING BOARD

1. Government has been seized with various initiatives aimed at stabilizing the economy, containing inflationary pressures, and therefore restoring the purchasing power of the local currency, with the primary goal being to increase the domestic and external competitiveness of the economy, create and preserve jobs, improve livelihoods whilst limiting damage to the economy, particularly in the face of the COVID-19 pandemic and more recently, the impact of the geopolitical tensions in eastern Europe.

2. Macro fiscal stabilization has been achieved largely through fiscal consolidation and the resultant attainment of both fiscal balance and stabilisation of the current account, as well as increased domestic production of goods.

3. Government is grateful for, and fully recognises the sacrifice and cooperation of all Zimbabweans in the ongoing effort to stabilise the economy, which is now on a firm foundation for growth.

4. The following measures are proposed with immediate effect:

A) IMPROVING ACCESS TO AFFORDABLE BASIC COMMODITIES

To further ensure that citizens have access to affordable basic commodities, in the face of recent substantial price increases in the shops, the government hereby opens up imports of basic commodities by citizens, through the lowering of import tariffs and other accompanying measures. This is with immediate effect.

Those with free funds are, with immediate effect, permitted to make use of these funds and other resources to import basic commodities.

B) INCENTIVISING EARLY DELIVERY OF GRAIN TO THE GMB

In the quest to incentivise farmers and encourage early deliveries of maize and other grains to the Grain Marketing Board, the government has taken the decision to pay the maize farmers 30% of the amount due on grain delivered in United States Dollars and 70% in domestic Zimbabwe dollars.

The US Dollar payment will be calculated at the prevailing willing buyer willing seller rate published by the Reserve Bank of Zimbabwe on the date of delivery.

The payments will be backdated to the date of the first deliveries of this season’s maize to GMB.

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