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N Touch
Thursday 24 May 2018
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Letters to the Editor

Plenty forex for big businesses

Plenty forex forbig businesses

THE EDITOR: The Government is lamenting that the country is facing a drastic shortfall of foreign exchange, in particular US dollars.

This is clearly evident by the curtailing of the sale of US dollars to ordinary citizens for travel and online purchasing. One has to wait as long a month in some cases to acquire US$1,000 from banks.

However, I do not see any shortage of new vehicles at motor companies. The purchase of new vehicles by these businesses would consume a huge amount of US dollars. Just take a look and one will see hundreds, if not thousands, of new vehicles in their showcases and storage yards.

In addition, there is likewise no shortage of imported foods, including luxury items, in supermarkets. PriceSmart, one of the leading supermarkets, has loads of imported items.

These stocks require valuable and diminishing foreign exchange.

Yet I and other ordinary citizens have to queue and literally begging for a few US dollars from the banks.

Something does not smell right here.



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