Business operators in Machinga say they are sailing through tough times citing the 16.5% Value Added Tax on cooking oil and lack of access to loans as some of the reasons.
Speaking to YONECO FM online a restaurant business operator Alex Kolombe said the rise in cooking oil prices has forced them to adjust upwards their meal prices.
“Business was running smoothly despite Covid-19 but now the increase in cooking oil prices has impacted negatively on our businesses,” said Kolombe.
Additionally Kolombe indicated that he has lost customers because not many are willing to pay for the food at a high cost.
Maxi Mussa, a lady selling second hand clothes at Ntaja market, told Y-BIZ that business has been tough because of the COVID-19 pandemic.
“We are ordering our items at a higher price but selling at a loss, we are even failing to get loans from lending institutions because we are uncertain of the economic times ahead,” said Mussa.