Importers to declare forex sources

Importers of goods who fail to declare their source of foreign currency at entry points now risk forfeiture of their wares to the State as part of Government measures to combat the parallel market activities, an official has said.

Finance and Economic Development Deputy Minister Clemence Chiduwa said Government was working on how to implement the policy which he said would encourage people to use their nostro accounts in commercial banks.

Deputy Minister Chiduwa said this while fielding questions from journalists today during a media briefing that was convened by Finance and Economic Development Minister Professor Mthuli Ncube meant to unpack the 2020 National Budget which the Minister presented in Parliament last week.

More to follow…

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