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‘Quoting prices in dollar illegal’

PRESIDENT Lungu has condemned the quoting of prices in United States dollars and urged business houses to stop the practice immediately because the Kwacha has stabilised.
The President said in Lusaka during his maiden press conference yesterday that the pricing of goods and services in dollars is illegal, and has urged the relevant ministries to back his directive with an appropriate law so that the culprits are penalised.
“Dollarisation of prices, a practice which is illegal. I appeal to businesses to stop pricing in dollars with immediate effect. I therefore direct the Bank of Zambia to ensure enhanced monitoring in this regard and take punitive measures against non-compliance,” he said.

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