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What Masimirembwa said last week

BELOW are excerpts from the interview Zimbabwe Independent business editor, Shakeman Mugari, had with NIPC chairman, Godwills Masimirembwa last week.

Mugari: Your commission has been accused of taking time to approve prices. Companies say by the time they get new prices things would have changed. Consumers say your approved prices are always far removed from the reality on the ground.

Masimirembwa: We are not always behind. What is always ahead is the tendency to profiteer. I must however say that we have worked well with big corporates.

Mugari: You are trying to inculcate a culture of responsibility in an economy with 66 000% (now 100 000%) inflation. The International Monetary Fund says even this figure is understated.

Masimirembwa: The NIPC does not sit in an abstract. We look at an application and its merits. We want stability. The price must hold for 30 days.

Mugari: It seems that even the 30-day time frame is not working?

Masimirembwa: We must realise that price reviews are not a panacea to our problems. The solution lies in productivity. There are shortages in the whole economy. We will still have problems achieving this stability if inflation continues to rise. We need a total package to solve this problem.

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