By Chisomo Phiri
According to a statement signed by Secretary for trade Christina Zakeyo, the sealed shops are Romana Trading and Chou Chou shops in Area 2 (Bwalo Lanjovu) and Shalom Shop in Area 25 (Nsungwi) who were found selling their sugar at exorbitant prices.
In addition, Simama General Dealers in Area 25 (Nsungwi) has also been closed for hoarding sugar.
The development follows a joint inspection conducted by the Ministry and the Competition and Fair-Trading Commission (CFTC) following reports of general sugar scarcity on the market.
Reads part of the statement:”Following the sugar scarcity on the market,some traders are selling sugar at exorbitantly
higher than recommended prices by the manufacturers.
“The joint exercise confirmed that some wholesalers are selling a 20x1kg packet bale of Illovo Sugar at K69,000.00 which is way far much higher than the manufacturer’s recommended price.
“The general public is hereby reminded that the recommended
wholesale price for sugar is K37,500.00 per 20kg bale and the retail
price per 1kg packet is K2,250.00.
“Therefore, anyone charging unfair
and excessive prices way above these recommended prices are breaching the Competition and Fair-Trading Act and the Business Licensing Act, 2012.”
The Ministry has however, urged Illovo Sugar Limited to provide
recommended prices to their distributors and the consumers have
liberty to demand manufacturers recommended prices to avoid being
overcharged.
It has further assured the general public not to panic as it has
issued adequate licences for importation of sugar to increase sugar
availability on the domestic market.
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