Financial News

Fuel and Electricity prices to be increased

FINANCE AND ECONOMIC Development Minister Mthuli Ncube has announced that the government will purchase new vehicles for Ministers and Members of parliament this week after a long period of austerity measures and electricity and fuel prices will be raised this week.

Ncube who was speaking during a discussion with Alpha Media Holdings Boss Trevor Ncube on Wednesday said the lawmakers have been patient for nine months and now it was time to give them what is due to them.

Meanwhile, Ncube also told Trevor that he will be increasing the price of fuel to be equivalent to US$1.
Mthuli Ncube says the levying of car import duty in forex is a “demand management tool” that is working very well and there’s really no reason to scrap it. Interestingly, a few days ago his perm sec was reported as saying the govt was “reviewing” the payment of duty in forex.

In another shocking announcement, the Minister said there is going to be an increase in the electric traffic which will result in increasing the expense clients have to incur when consuming electricity.

Commenting on the development Senior Journalist Brezh Malaba said, “I’m sitting here at the Celebration Centre in Harare, listening to Trevor Ncube interviewing Finance Minister Mthuli Ncube. He has spoken of increasing the price of fuel and electricity. He has also spoken of buying cars for ministers and MPs. Whose interests does this government serve?”

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