Harare, Zimbabwe (News of the South)-Government has threatened retailers who are using a three tier pricing system to desist from the habit or they will be arrested, according to a Reserve Bank of Zimbabwe (RBZ) senior official.
Speaking at a Bond Notes 100 Day Review meeting in Harare on Wednesday Dr Khupukhile Mlambo said government is aware of unscrupulous retailers who are differentiating prices according to what mode of payment one is using.
The three modes of payment are bond notes, US dollars or swiping using plastic money.
In order to get more US dollars some shops have lower prices for those using US dollars and higher prices for those using bond notes or swiping.
This Dr Mlambo said is very much illegal and would get some retailers arrested if they continue the fraudulent practice.
“It’s illegal to have three tier pricing and I encourage retailers that are doing that to stop”
“The one thing that we would not like to do is to arrest people but we can’t watch whilst the public is being cheated. Let’s follow the laws”, he said.
Dr Mlambo said the illegal habit by the retailers is counter-productive to what government wants to achieve adding that even those who were not banking could find themselves facing the law.
“We have the Banking Act which requires that retailers should have bank accounts but some of you have not been banking or you have been banking only bond notes whilst you hide away the US dollars”, he added.
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