Trust Freddy
Herald Correspondent
Zimbabwe National Road Administration (Zinara) yesterday again reviewed downwards both toll and vehicle licencing fees as local currency continues to gain against the United States dollar.
Toll fees which are set in both foreign currency and local currency have seen a downward review in local currency where a light-motor vehicle is now paying $10 000 from $10 800. For the same light motor vehicle, the licencing fee has been reduced from $108 000 to $100 000.
During the first week of July, light motor vehicle tolls were $11 960, while the cost of a light motor vehicle’s licence was $119 600 per term.
This is the second downward review by Zinara after another one last month as local currency continues to firm against the US dollar.
In an update on its Twitter handle, Zinara said: “We are pleased to advise of the downward review of toll fees in terms of Section 4 of the Statutory Instrument 32 of 2021.”
The local currency has been steadily gaining against the US dollar in the past few weeks, with US$1 now equal to $4,542 against the local currency.
In terms of Statutory 32 of 2021, Zinara is empowered to collect toll fees in foreign currency, but the same can be paid in local currency at the official rate.
Meanwhile, motorists have hailed Zinara for setting an excellent example and urged business people to do the same.
“We are happy that Zinara is revising its pricing in accordance with the auction system rate, and we expect business owners to follow suit,” Ms Madeline Jaji, a Harare-based motorist said.
Another motorist, Mr Elton Nyakurwa implored mobile operators to also promote the use of local currency by lowering their prices whenever it gains.
“Mobile operators should do the same and revise their data tariffs downward; we don’t want to see this kind of profiteering. I think as a nation we must get to a point where everyone just aligns their prices with the prevailing rates.”
The continuous decline of the exchange rate has come as a great relief to consumers bringing hope that prices for basic commodities and services will follow the same trajectory.
Demand for the Zimbabwean dollar continues to soar as more businesses and individuals seek to transact using the local currency, which continues to regained its lost value at the wholesale foreign currency auction.