South, Central chambers: Slow sales in 2018

The retail sales sector witnessed sharp declines in 2018 according to the heads of three business chambers with one chamber saying December sales were down by a whopping 60 per cent when compared to 2017.

However, the chambers were optimistic that 2019 should be a better year as two elections were projected to occur in 2019 and 2020 respectively with infrastructure works expected to increase in preparation for the elections.

San Fernando Business Association president Daphne Bartlett, in a telephone interview yesterday said many business had lost money in the latter half of the year and had hoped they would “break even” in December.

“The sales for this year was slow and it came right down to near 60 per cent less in the month of December. Many of the businesses lost money for the last six months and the thing is, we are trying hard not to send home any employees.”

“We know exactly what caused it and when you send home, they are saying 5,500 but we know it is closer to 12,000-15, 000 persons who would have become unemployed. If you do things that will close many businesses, what you are really doing is slowing the economy.”

“My advice for the government is it should always be cognizant of the fact that businesses drives the economy. All these new for sale signs going up, for rent, businesses being closed, what is that indicating to you. It says something is going wrong.”

The outspoken business head said the Petrotrin saga was far from over and wondered where government would get the US dollars needed to purchase fuel on the international markets.

“You are taking our US dollars to buy fuel when before you were spending TT dollars to get the fuel. I think they need to sit down, get some advisor to advise them what to do and how to do it because we may end up in the worst possible way by the IMF.”

Meanwhile, Penal/Debe Chamber of Commerce president Rampersad Sieuraj said sales in the region were “rather slow” when compared to previous years.

“Things were not as bright as it used to be in prior years and I think the Petrotrin issue might have had something to do with that. Also the issue of crime continue to be a problem which we have in Penal/Debe.”

However he was optimistic about 2019 saying TT would be on an election footing which traditionally witnessed an increase in government spending on infrastructure works such a roads bridges, and drains.

“One would hope that there will be a reduction in crime to start with and create a better business climate.”

Couva/ Point Lisas Chamber of Commerce head Ramchand Maraj said central businesses have recorded reduced sales due to the closure of the Arcelor Mittal steel plant in 2017 as well as Petrotrin in early November 2018.

He said the New Year may witness a re-emergence of the plant as bids were still open as well as the opening of more family owned businesses.

Maraj however said the non-importation of regular gasoline for the region’s fisher folk as well as the crime situation had contributed to decreased economic activity in the region.

“The only disappointing thing is the fisher folk experiencing with the regular gas and that is creating real hardship. And on the issue of crime, I hope it is abated and I want to commend Commissioner of Police Gary Griffith, and all the efforts made by the police service.”

He too said the elections scheduled for 2019 and 2020 should also generate economic activity in the coming years.