BUSINESS NEWS

Millers Celebrate As Importation Of Maize Meal Is Suspended!

Millers Celebrate As Importation Of Maize Meal Is Suspended!

Grain millers applauded the government’s move to halt maize meal imports in order to safeguard millers from unfair pricing by “opportunists.”

The suspension of import licences will allow for fair market competition, according to Tafadzwa Musarara, President of the Grain Millers Association of Zimbabwe (GMAZ).

Musarara remarked yesterday during a conference with Northern Region members:

We are happy that the importation of maize meal has been suspended after the lapse of the open general licence. Our Millers have been facing challenges through unfair competition by opportunists.

Some of these opportunists have been buying maize grain through side marketing thereby prejudicing us.

Government will not issue permits for the importation of maize meal this time. But millers will be given permits through the association to import maize grain. This will help us to have fair pricing competition on the market. As millers, we will soon embark on a blitz to ensure that we stop any importation of flour or maize meal.

In May 2021, the government banned maize imports and suspended import licences for maize grain, maize meal and other maize products to support domestic farmers and millers.

In February 2022, the government reversed the ban and allowed individuals and companies with free funds to import and ensure regular supply for the milling industry and stockfeed manufacturers.

This was after surveys by the government and its partners, including the World Food Programme, had established that about 5.4 million (36%) of Zimbabweans are facing hunger in the current season.

Government critics say billions of dollars that were used in recent years allegedly to boost the agriculture sector were abused by political elites.

In other news,

Value-Added Tax Deferral Minimum Threshold Raised To $1 Million

 

Finance Minister Mthuli Ncube said that the minimum threshold for VAT deferral has been raised from US$500,000 to US$1 million.

The government approved a temporary exemption from paying VAT on selected capital items imported by enterprises in the manufacturing, agricultural, mining, aviation, transportation, and health sectors.

Ncube stated that the facility was being overused in his national budget presentation for 2023…continue reading

Related Articles

Back to top button