GMAZ holds emergency meeting - Zimbabwe Situation

GMAZ holds emergency meeting

Source: GMAZ holds emergency meeting | Daily News

HARARE – The Grain Millers Association of Zimbabwe (GMAZ) will today hold an emergency meeting to deliberate on maize meal pricing and consider the impact of the lifting of Statutory Instrument (SI) 122 on the industry.

This comes after manufacturers of packaging material increased their prices by over 500 percent and are demanding payment in foreign currency, triggering a possible rise in maize meal prices.

According to GMAZ, South African companies in the packaging material manufacturing business will also be present at today’s meeting to share and exchange views in an effort to find a workable solution that does not affect the already burdened consumer whom all the costs are extended to.

“Not only have they increased the prices by — in some instances 700 percent — but they are also demanding their payments in foreign currency and this is the reason why we have arranged this meeting with them so that we deliberate on the implications to consumers,” said GMAZ general manager Lynette Veremu.

GMAZ revealed that polypropylene which was initially being sold at $1, 34 in bond note or RTGS is now US$2,76, while laminating plastic which was $2 per 5 kilogrammes is now costing $6 per kilogramme.