The Standard Development Fund was established through an act of Parliament Chapter 14:19 of 1987.
The objective of the Fund is to develop and promote standardization and quality control of commodities and services in Zimbabwe. This is done through levy collections which are disbursed in the form of grants to organizations that deal with the above objective. The current beneficiaries are Standards Association of Zimbabwe (SAZ), Southern African Development Community Accreditation Services (SADCAS), Scientific and Industrial Research and Development Centre (SIRDC), National Competitiveness Commission (NCC) and Trade Measures Department (TMD).
In order to attain the continuous improvement of its revenue collections, the Standards Development Fund enforces compliance to the Standard Development Fund Act by routine wage bill inspection visits. This enables the Fund to achieve higher attainment of its set objectives.
Promote fair competition in all sectors of the economy;
Investigate and regulate mergers in the economy;
Investigate, discourage and prevent restrictive practices;
Reduce barriers to entry into any sector in the economy or any form of economic activity;
To undertake investigations and make reports to the Ministry of Industry and Commerce relating to tariff charges i.e. giving assistance or protection to local manufacturing industry;
Investigate unfair trade practices in the economy; and
Rendering technical assistance to Government during trade negotiations.
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