Home Business Govt hikes price of subsidized maize amid roller meal shortages

Govt hikes price of subsidized maize amid roller meal shortages

Mealie-meal

Govt hikes price of subsidized maize amid roller meal shortages. The increase comes at a time when the country has been experiencing a crippling shortage of the subsidized roller meal. The shortage is so severe that some people have actually resorted to physical fighting to get their hands on the country’s staple on the few occasions that they manage to come across it.

The government has hiked the price of the subsidized maize roller meal by 40 per cent. A 10-kilogram packet of the mealie meal now costs ZWL$70.00, ZWL$20 up from the previous price of ZWL$50. Below is the full directive from Mthuli Ncube’s Ministry of Finance and Economic Development announcing the price increase.

PRESS STATEMENT BY THE MINISTRY OF FINANCE AND ECONOMIC DEVELOPMENT ON THE PRICE REVIEW FOR SUBSIDISED ROLLER MEAL FROM ZWL$50 TO ZWL$70 PER 10 KG BAG

In December 2019, Government introduced a roller meal subsidy pegged at ZWL$50 per 10kg bag in order to protect the vulnerable groups. However, the wide gap between the market and the subsidised price has created undesirable arbitrage opportunities for unscrupulous players, resulting in the market and supply distortions.

In view of the above. I am pleased to announce that the Government has reviewed upwards the subsidised price from ZWLS50 to ZWLS70 per 10kg bag of roller meal against the prevailing market price of the product.

Implementation of the new subsidy price is with immediate effect. The government will announce a strengthened targeting system in due course such that deserving vulnerable citizens as intended by the subsidy policy benefit.

MINISTRY OF FINANCE AND ECONOMIC DEVELOPMENT
11 February 2020

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Roller-Meal-Subsidy

Source – iHarare

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