Pharmacies Charging Above Official Exchange Rate Set To Lose Licences
The Government has accused several pharmacies and other traders of engaging in “forward pricing” and speculation in violation of exchange control directives as well as standing government policy guidelines with respect to pricing and the use of the Zimbabwe dollar.
In a statement released on Tuesday, 11 July, the Ministry of Finance and Economic Development, said the Financial Intelligence Unit (FIU) is conducting investigations to identify the culprits.
It said (FIU) has established that some pharmacies are using parallel market exchange rates ranging from between ZWL$8 500.00 to ZWL$11 000.00 against the USD, in complete violation of Government Policy and the country’s anti-money laundering regulations.
The Ministry said measures have since been instituted against the culprits that will result in the suspension and/or cancellation of the trading licenses of the pharmacies. The pharmacies are:
Name of Company
Location
Observed Violation
Blessed Pharmacy
Chegutu
Using exchange rate ZWL 10 000.00
Global Pharmacy
Kadoma
Using exchange rate ZWL 000.00
Leecare Pharmacy
Kadoma
Using exchange rate ZWL 10 000.00
Pineal Pharmacy
Kadoma
Using exchange rate ZWL 10 000.00
Greenwood Pharmacy
Kwekwe
Accepting USD only
Name of compamy
Location
Observed Violation
Apex Pharmacist Pharmacy
Gweru
Using exchange rate ZWL 9 500.00
Siegmed Pharmacy
Gweru
Using exchange rate ZWL 10000.00
Booties Pharmacy
Gweru
Accepting USD only
Mediplus Pharmacy
Rusape
Using exchange rate ZWL 10 000.00
Greenview Pharmacy
Rusape
Using exchange rate ZWL 11 000.00
Kaizen Pharmacy
Rusape
Using exchange rate ZWL 10 000.00
Necta Care Pharmacy
Mutare
Using exchange rate ZWL 8 500.00
Lancaster Pharmacy
Mutare
Using exchange rate ZWL 9 000.00
Murapi Pharmacy
Mutare
Using exchange rate ZWL 9 000.00
Grey Pharmacy
Mutare
Using exchange rate ZWL 10 000.00
Central Pharmacy
Mutare
Using exchange rate ZWL 11 000.00
Manica Pharmacy
Mutare
Using exchange rate ZWL 10 000.00
The Ministry added that the Government remains committed to the broad use of local currency for domestic transactions and stern measures will be taken against service providers who continue to violate provisions.
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It urged the transacting public to resist all forms of unfair pricing by retailers and to immediately report violations to the Financial Intelligence Unit.
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