The Amalgamated Rural Teachers Union of Zimbabwe (ARTUZ) has described as the height of insincerity the move by the government of officially hiking fuel by over 150% at a time when they are offering Civil servants a mere 10% salary increase.
As it stands, the fuel price hike is still lower than the actual price on the market and government will continue carrying the burden of allocating foreign currency for procurement of fuel.
“The government should flush out the price distortions born out of the big lie that the bond note is 1:1 with the United States dollars. The bond note is set to lose value on the market and fuel will still be sold at US 30 cents a litre. The government will continue to supplement the difference and the fuel will find its way to the black market. On the black market fuel is now sold at US $2. The ordinary people are not benefitting from the government subsidies, the cartel running the fuel industry is making super profits abusing the subsidy.
“The phasing out of the bond note lie is now an imperative. Either we urgently phase it out or allow it to compete on the market fairly. Allowing bond note to compete is a good step towards currency reform. The salaries of civil servants should be paid in the United States dollars to enable them to participate in the economy. ARTUZ rejects government’s 10% offer and will be announcing a clear way forward today after our National Executive Council (NEC) meeting,” the teachers’ union said.