The government has been urged to put in place deterrent measures against unscrupulous business entities that do not want to embrace plastic money at a time there is an acute cash shortage.
Underhand dealings by unscrupulous business persons has worsened the cash shortage which is negatively impacting on the economy, resulting in the need for urgent solutions to be enforced to promote use of plastic money in the country.
Economist, Ignatius Matungamire said heavy fines should be imposed on retailers and business who are either not banking or shortchanging the transacting public by resisting the use of plastic money.
University of Zimbabwe Department of Economics Chairperson, Professor Albert Makochekanwa said the use of plastic money is in line with global and modern transacting trends that will reduce demand for hard cash and reduce cash shortages in the economy.
Professor Makochekanwa said business ethics should guide business people to bank their money, adding that keeping hard cash without banking has negative consequences to both transacting public and the national economy.
Businessmen and analyst, Cosmas Mushininga said there should be stricter monitoring of business entities that resist the use of plastic money, proposing that business owners who take advantage of customers to charge high prices for using plastic money should be arrested.
Other analysts said the public should report business owners who charge extra cash for those using plastic money to curb the ill that has become cancerous to the national economy.
Calls for the government to improve local production and boost the country’s export receipts are the long term solutions that will improve availability of foreign currency inflows into the country.