NaPAZ announces new ZWD tariffs

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Reacting to the return of the Zimbabwe dollar, the National Physicians Association of Zimbabwe have set their stall in the new legal tender. In a statement, NaPAZ, in light of the recent announcement of SI 142 which introduced the Zimbabwe dollar as the sole legal tender, the executive had approved new local tariffs which are immediately effective pending clarity on the market and consultations.

The association said it had agreed to transition from the multicurrency based tariffs to the new local currency. The initial consultation fees was pegged at US$120.00 and was now at ZWD$1800.00. This translate to a rate of 15% which was used to convert to the local currency. The rate used is actually higher than the parallel market rate which was between 12-13% yesterday.

This has been the trend in the market, when businesses put prices in the local currency they multiply with a rate slightly higher than the one prevailing in order to mitigate the risk of currency volatility.

However, the initial consultation is more than 4 times the salary of the least paid civil servant who still have a take home of around ZWD$400. This simply means that the cost of private medical care has gone beyond the reach of ordinary Zimbabweans including the civil servants. Yesterday, President Mnangagwa assured the nation that Zimbabwe was in the right direction and the measures being taken were a right step to stabilize the economy.

Below is the full minutes of the executive directors meeting:

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