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By Tafadzwa Muranganwa
A recently formed non-political pressure group has vowed to take decisive action against business oligarchs that are fomenting the price hikes currently prevailing in the country.
In a press statement on Thursday, Progressive and Patriotic Citizens of Zimbabwe (PAPCOZ) blasted unscrupulous companies that are abusing the government’s foreign currency auction system, saying the time is nigh for such businesses.
“Whilst the economy has shown an increase in foreign currency earnings since last year to the tune of more than US9 Billion dollars, and where the interbank and auction rates are in sync with the willing buyer and willing seller principle, it is worrisome that there are oligarchies, cartels and economic saboteurs in our midst who are operating in dark corridors, fighting government efforts to destabilize the economy.
“We are aware of these oligarchies and cartels and want to warn you in the strongest of terms that your time is up,” stated PAPCOZ.
“There are businesses that are thriving because of the existence of the auction facility and yet we are now aware that these same entities are part of the cartels driving the parallel market for greedy purposes while fueling arbitrage. We are aware of your existence and chicanery, ”added the new pressure group.
PAPCOZ said it is mooting the idea of working with the Financial Intelligence Unit and other law enforcement agents to expose these companies.
“We want to inform you that this is just a warning, but moving forward we are going to engage the Financial Intelligence Unit, all other law enforcement, and security agencies to expose these oligarchies, cartels, and all those involved in foreign currency shoddy deal.
“We shall ensure through our advocacy and non-confrontational methods that all these economic terrorists are brought to book and face the full wrath of the law.
“This important and urgent operation and campaign shall also push for the seizure of licenses of those businesses who are found on the wrong side of the law,” reads part of the hard-hitting statement.
Pressed on whether the threats will amount to anything given past experience, PAPCOZ national coordinator Nixon ‘Mao’ Nyikadzino said the organisation will not flinch and is giving the ‘oligarchs’ a 2-week ultimatum.
“You will see actions very soon. We are giving these businesses and we know them 14-days to play ball or they will face the consequences that we have highlighted in the statement,” berated Nyikadzino.