Indarsingh: Government lapsing on joblessness

THE Government initially failed to boost the economy and now is lagging in its efforts to help businesses and so save jobs, alleged Couva South MP Rudranath Indarsingh.

On Friday, he gave Newsday his reaction to HRC Associates report for the TT Chamber of Industry and Commerce, Covid19: CEO Concerns and Expectations which predicts more retrenchment by private firms.

Indarsingh said for over four years the Government has failed in its promise to give TT real leadership, to diversify and grow the economy, and to bring foreign investment.

“Given the pandemic and the fall in oil and gas prices, I don’t expect the Government to provide anything innovative to produce an enabling environment to cause the private sector to expand.” While he would expect firms to review their operations so as to become more efficient as stated in the report, he also expected the Government to step up and provide a bailout/stimulus to help the survival of small/medium and big businesses.

“That is critical to ensure social stability in this country.”

Indarsingh said a bailout/stimulus plan must be presented soon. “We have not heard from the Minister of Labour, Minister of Trade or Minister of Finance about what that stimulus package will be. I’d have thought that by now they would have met the Chamber of Industry and Commerce, Employer Consultative Association, TT Manufacturers Association, Coalition of Services Industries, NATUC, FITUN and JTUM. This would help them try to gauge what are the needs to keep workers in jobs and keep companies afloat.

“While I have no problem dealing with the pandemic situation at hand, we also need to hear about the post-covid19 world.”

Indarsingh urged Nedco to give soft loans for capital injection to companies which need it now.

“The Prime Minister has named a 22-member team to examine the post-covid19 road to recovery, but I hope the report will be laid in Parliament for a national debate.

The Opposition has not been part and parcel of it all so far.”

Indarsingh wanted to hear how much of the Heritage and Stabilisation Fund (HSF) should be given to small and medium businesses. “We hear about Tobago hotels but also need support for the manufacturing sector. That is of critical importance.” He hoped workers don’t return to work in a haphazard manner but follow World Health Organisation protocols including social distancing. “What will give people a sense of comfort is if the Government makes an allocation for further testing, so there will not be new cases out there that we are not aware of.” Indarsingh hoped to know details of spending of funds in HSF withdrawals and Andean Bank loans. He added, “Tax and VAT refunds existed before the pandemic, and we hope it will not be manipulated to buy votes in the next general election as a slush fund.”