Residents Welcome BUPTA Move
BULAWAYO residents have
welcomed the move by the Bulawayo Public Transporters Association (BUPTA) to
alter its United States dollar to South African Rand exchange rate from the 1:7
that is prevalent in most commuter omnibuses to 1:8 which better matches the
current official rate. Residents said the move was welcome as it meant that
they would no longer lose out on their hard earned cash through what they
termed ‘a deliberate ploy by kombi drivers and conductors to fleece them.’
Under the 1:7 rate, residents effectively lose a rand for each dollar whenever
they pay in United States Dollars and get their change in Rands. Residents also
called upon other transport operators to follow suit as it is unfair for them
to be using the 1:7 rate despite gains that the United States Dollar has made
against the Rand on the international market. Tshova Mubaiwa commuter omnibuses
are also using the 1:8 exchange rate.
The problems being
faced with the use of a multi-currency system in Bulawayo stem from the fact
that while most employees get their salaries in dollars, use of Rands is also
widespread due to the close proximity of the city to South Africa and the
influence of thousands of Zimbabweans from the Matabeleland region working in
South Africa. The Rand and the United States Dollar thus compete as legal
tender in Bulawayo, giving rise to the problem of cross rates – which has often
been characterised as giving leeway for transport operators and other traders
to fleece the public through altering prices and exchange rates. Economists
have previously called upon the government to ensure that all business
operators stick to daily international exchange rates.
Regards
Information Department
Bulawayo
Progressive Residents Association
Bus. Tel: +263 9 61196
Cell: +263 772 516 729
No comments:
Post a Comment