The strengthening of the local currency against the United States dollar has opened a floodgate of benefits for the motoring public as the Zimbabwe National Road Administration yesterday reviewed downwards both toll and vehicle licensing fees.
Toll fees for light motor vehicles, which were pegged at $11 960 in the tariff review announced mid-June, have been reduced to $10 800.
Vehicle licensing is now $108 000, down from $119 600 per term for a light motor vehicle.
The local currency has been steadily gaining against the US dollar in the past two weeks, with US$1 now equal to $5,395 against the local currency. In the previous week, US$1 was equal to $6,326 on the Reserve Bank of Zimbabwe foreign currency auction system.
In terms of Statutory 32 of 2021, Zinara is empowered to collect toll fees in foreign currency but the same can be paid in local currency at the official auction rate.
As such, the move by ZINARA to adjust downwards the road user fees is not only an act of compliance with the provisions of the law but a demonstration of ethical and progressive business practice.
The new tariffs are contained in a statement published by Zinara yesterday.
Confirming this development, ZINARA said the new rates were informed by the progressive strengthening of the local currency against the US dollar on the official auction rate.
Zinara said the strengthening of the local currency was good for economic stability and the preservation of value for the disbursements that they administer to road authorities.
Motorists hailed this development saying the review was an encouraging sign of an economy heading towards stability.
“This is a welcome development, and unprecedented that prices are adjusted downwards. This is good for us and I hope more business people can begin to consider doing the same,” said Mr Godknows Marufu, a Harare-based motorist.
Another motorist, Mrs. Grace Mashamba, said: “We are happy with this development, but we hope it’s going to be sustainable.
“We don’t want people or organizations with a profiteering mentality, and this is indeed a move in the right direction by ZINARA.
“We hope this will also send a positive message to other business operators as well.”
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