Zimbabwe Extends Mandate of Price Regulatory Body

The Zimbabwean government has extended by a month the mandate of a pricing body to control prices of basic commodities, state radio reported on Sunday.

The National Incomes and Pricing Commission (NIPC) had its mandate to control prices of selected products extended to July 31 following gazetting of a statutory instrument on Friday.

The initial mandate of the NIPC to control prices expired on June 30.

The commission was formed in 2007 to police government pricing regulations.

Officials from the commission are empowered to enter and premises of any company where there is reasonable suspicion that there are violations of pricing regulations.

Persons found guilty are liable to a fine or imprisonment not exceeding three years.

Source African Press Agency

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