Chamber head Hadad: We cannot continue to pander to covid19

Diane Hadad
Diane Hadad

TOBAGO Chamber of Industry and Commerce president Diane Hadad is expressing fears the covid19 pandemic could cause long-term damage to the business sector and the TT economy.

During a news conference on Saturday at the Diplomatic Centre, St Ann’s, the Prime Minister announced the continuation of restrictions for another 28 days to prevent the spread of covid19.

Dr Rowley reported there has been no significant let up in new infections and, as such, the restrictions for beaches, churches, gyms and food establishments will remain until October 11.

Hadad told Sunday Newsday while the restrictions may be necessary, the country cannot afford to pander to the virus.

“I don’t know that we can continue to live like this. At some stage, we need to take control of the earth in terms of covid19.

“I don’t think we have done a good job, as human beings, behaving very well in terms of our environment, but I do not know that we can continue to allow covid19, the virus, to destroy our economics and lives like this.”

She said business people are making tough decisions.

“We are already seeing people making decisions that whatever they have, they may as well try to salvage it. So whatever assets and stock they have, people are now hauling up and probably finding ways of liquidating or packing it away for when things change.”

Hadad said the effects of a continued lockdown, at this stage, can be devastating.

“I don’t know how much longer this can be carried on because, even persons who are open and doing business, you are seeing the strangulation of the customer flow being able to pass through the outlet. That, in itself, is not allowing for any sort of economics in terms of the cost of doing the business and the income.”

She added, people are no longer making luxury purchases.

“So the buying patterns have now become very basic and, therefore, the items that are selling are the cheaper items. That, in itself, changes your income. So, the output to do work carries the same cost but the revenue is a lot less.

“That is not sustainable. In fact, I think in many instances, that would have crashed in terms of economics.”

Hadad said since the virus began infecting people and the country several months ago, businessmen have incurred significant interest on their loans because of deferrals.

“Interest has already shown a record of between $500,000 to $900,000 in terms of interest on loans that will be deferred because people do have high borrowing. Therefore, I am not sure how this will unfold financially.”

Tobago Hotel and Tourism Association vice-president Carol-Ann Birchwood-James said the situation with the island’s tourism sector remains a challenge.

“There is no ease up of the situation in the tourism sector, so we await another 28 days. We continue, as we are in the present circumstance, with only essential travel between Trinidad and Tobago.”

Birchwood-James again appealed to the Government to speed up the payment of outstanding salary relief grants to workers who were displaced during the initial lockdown in March.

She said a list has already been prepared and sent to Tourism Minister Randall Mitchell.

“There are quite a good bit of people still to get the grants. In some hotels, 60 per cent of workers have not received the grants, and in other hotels all of their workers.”

Birchwood-James urged citizens to obey the covid19 protocols which have been issued by the Ministry of Health.

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"Chamber head Hadad: We cannot continue to pander to covid19"

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