New Zim. bank-note and raised daily withdrawal limit

 New Zim. bank-note and raised  daily withdrawal limit
 
THE Reserve Bank of Zimbabwe seemed to have heeded the plaintive cries of Zimbabweans to be able to withdraw bigger sums of their money from banks when the central bank brought into circulation, as from Monday, a new $50 000 note.


   The RBZ also directed all banks to raise the daily withdrawal limit to the same amount from $20 000.
   But the sighs of relief of money-starved Zimbabweans at the respite quickly turned into pained refrains when consumers quickly found out that reserve bank governor, Dr Gideon Gono’s “graciousness” had triggered off unbriddled commodity price increases.
   Painful to conteplate, consumers found out that a  10kg bag of mealie meal, would now cost them $31 000, more than double the gazetted $12 000. Literally overnight the bread price rose to $20 000 a loaf,  a 300ml soft drink has gone up to $10 000, the humble banana sets you back an unimaginable $4 000, and commuter bus fares have spend to $10 000, and still going up by week’s end,to quote just a few commodity price hikes.
    A shopkeeper in Lobengula Street in Bulawayo, Mr Vodloza Khumalo, justified the price hikes:  “Welcome to Zimbabwe. I’It’s the (un)popular game in town, everyone’s doing it, even the suppliers, manufacturers and wholesalers,” he said.
    The Narional Incomes and Pricing Commission seems impotent to stem the trend. “The price control board (NIPC) is  toothless  and self-serving and no one takes them seriously. It’s (over-pricing is occuring openly, and how many business people have you heard arrested and charge with the offence?” Mr Khumalo pointed out.
    An NIPC contacted for comment brushed aside questions. “I am busy,  call me next week”, he answered and and cut off his phone. 

–Staff reporter                                   — .

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