WHILE the Minister of Finance might have pulled a masterstroke by the introduction of the Foreign Exchange Auction System, which ultimately stabilised the exchange rate, business and citizens alike had hoped that prices for basic needs would stabilize, but the market has proven otherwise.
As curtains fell on 2020, most citizens would have hoped for a calm year, but before even before a week had elapsed the Zimbabwe National Roads Authority (ZINARA) has made price adjustments for vehicle licensing.
The move comes at a time when most motorists will obviously want to renew their vehicle licenses, as it is the beginning of a new calendar year.
However, it is the issue of increase in fees for vehicle licenses that worry most motorists, especially given the fact that the central bank has been receiving kudos for a stellar job through the introduction of the (FEAS) that was supposed to stabilize prices and the runaway black market exchange rate.
Most people – if not everyone – are dumfounded on the basis on which ZINARA increases licence fees when the exchange rate has been deemed stable at about US$1: ZW$81.7.
The latest price adjustment comes hard on the heels of the August and December 2020 fees increases.
Zimbabweans continue to face a harsh economic environment as prices for basic commodities are going up, albeit by smaller margins, but all hope had been pinned by a stable exchange rate determined by the forex exchange auction.