Govt exploring ways to address forex crisis
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Loading... - Hassan Abdi
- 26 Jan 2023
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Industry and Commerce minister Sekai Nzenza says the government is exploring strategies that will guarantee flow of foreign currency into productive sectors of the economy.
In an interview with NewsDay Business, Nzenza said manufacturers of several products, including basic commodities will benefit from the scheme.
“Government is looking at increasing domestic production of key raw materials such as wheat, soyabeans and sunflower,” Nzenza said yesterday.
“Government will continue to come up with policies and strategies to ensure the availability of foreign currency to productive sectors of the economy, which include manufacturers of basic commodities and other key sectors.
“This move is meant to ensure that productive sectors access foreign currency from the official market as opposed to obtaining the same from alternative sources which charge higher premiums. These are later passed on to consumers through hefty price increases.” Read More…
