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Government has warned pharmacies that are overcharging or selling medicines in United States dollars that they risk losing their operating licences. Unscrupulous pharmacies are pegging their prices based on the prevailing parallel market rates of local currency to the US$ and as such their prices are exorbitant.

The sick can therefore not afford most of the prices charged by pharmacies thereby putting their lives at risk. Health and Child Care Minister Dr Obadiah Moyo warned pharmacies charging exorbitant prices and those demanding payment in US$ dollars that they risk losing their operating licences. 

He said his Ministry would soon embark on an exercise to check on pharmacies’ compliance to pricing of medicines and those found overcharging or demanding payment in US$ will be punished. “We are going to be checking on all private pharmacies to ensure that they are all adhering to the approved prices. We do not want a situation where people are overcharged as a result of continuous hiking of prices,” said Dr Moyo. 

He said pharmacies charging in foreign currency must stop the illegal practice forthwith or risk losing their operating licences. Government on June 24 removed the multi-currency regime and restricted domestic transactions to local currency renamed Zimbabwe dollar. 

The removal of multi- currency is supposed to boost economic activity and eliminate speculative tendencies. People, however, continue to be fleeced by unscrupulous businesses that continue to illegally peg their prices in foreign currency and these include pharmacies.

Some of the businesses simply converted the US$ prices to local currency hence the prices are now beyond the reach of many consumers. There is a need for Government to check the pricing of all businesses to ensure correct pricing models are used in order to protect consumers from businesses that are after profiteering. 

The businesses’ insatiable appetite for the US$ has seen them selling even locally produced products in US$ even after the removal of the multi-currency regime. It is time measures are taken to stop businesses from charging extortionist prices. 

The sick cannot afford medicines and this is a serious crisis that should urgently be addressed. Government has repeatedly threatened to take tough measures against businesses that are overcharging but has taken too long to act.