Former Minister of Planning, Economic and Social Restructuring and Gender Affairs, Economist, Mary King assures citizens that there is nothing to worry about, regarding the current increase in prices on luxury items.
Speaking with News Power Now, Ms. King said the items that have been subjected to a 12.5% VAT tax, are items which were essentially imported into the country and has laid a heavy burden on the county’s economy.
Supporting the Government’s decision , the former Planning Minister, said citizens are using too many processed food items, items she says are unhealthy.
Economist, Mary King
Meanwhile… the President of the Supermarkets Association has issued a statement to News Power Now. Dr. Mohammed Ibrahim says the supermarket’s association now has to add VAT on items the government has determined are now vatable.
The effect is that the consumer will be paying more for goods, just by adding the vat on those items , and he added that there will be a reduction in the prices for the items that are currently vatable as it moves from 15 to 12.5 %.