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Lifting Import Restrictions Will Affect Local Industries Negatively, Companies Could Close - CZI

5 years agoWed, 24 Oct 2018 08:22:00 GMT
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Lifting Import Restrictions Will Affect Local Industries Negatively, Companies Could Close - CZI

 

The Confederation of Zimbabwe Industries (CZI) has criticised the move made by the government to indefinitely lift all import restrictions to allow businesses and individuals with access to forex to import goods. The CZI said the move by the government will affect local industries negatively and could result in company closures. CZI president Sifelani Jabangwe told NewsDay

We believe that this is not the appropriate action because it will affect business adversely if goods were to come in and start taking away demand from local industry. I think as you are aware, as CZI, you have not heard us talk about company closures for the past two years or retrenchments, but you could actually find that it starts again.

Oil Expressers’ Association of Zimbabwe president Busisa Moyo added,

The issue is forex, the inefficiencies in forex allocation and so on…They gave us sufficient warning. But I think the South African manufacturing is doing a dance. The farmer in SA has a bigger market for his soya.

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More: NewsDay

 

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