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Forex rate elapse: Medicine price still up

With the economic instability in the country it has become so expensive to buy anything especially without foreign currency. This has been evident even in the medical sector where medicine is been sold forex.

The Pharmaceutical Society of Zimbabwe has released a press statement in line with the current situation in Zimbabwe. In the press statement that was made today there stance is clear that medicine is not likely to go down soon as many are anticipating that with the parallel markets rates lapsing.

“Considering the fairly long lead times that exist in the pharmaceutical supply chain, the society will want to urge the public to remain calm in this period which has been characterised by some pharmacy closures and price uncertainties. The Society would like to urge the retail pharmacists to continue trading in a way that is both legal and keeps their practices visible.”

The crisis deepened over the last week due to uncertainty on how the import bill on medicines was going to be handled by the monetary authorities in the face of declining allocations of foreign currency to the industry over the past nine months. This was also worsened by the withdrawal of credit facilities by a number of suppliers to the market over non-payment of past obligations.

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About Tafara Clayton Mushope

Photographer, intern journalist at ZimOnline News