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Thandeka Moyo, Chronicle Reporter

THE Bulawayo City Council has increased the prices for residential and industrial stands by about 50 percent.

The local authority said the increase was a viable option to pegging the stand prices in forex.

A majority of residents, said council, have no access to hard currency and salaries have remained stagnant for a majority.

High density residential stands will now cost RTGS $40.5 per square metre up from $27 while those buying medium density stands will pay $25 up from $16.

According to the latest council report, the pricing of stands had been suspended since December 2018 due the volatile and unstable economic operating environment which had emerged during the last quarter of the year.