Business leaders hope for retail relief soon

GREATER Chaguanas Chamber of Commerce president Richie Sookhai, Greater San Fernando Chamber of Commerce head Kiran Singh and Confederation of Regional Business Chambers co-ordinator Jai Leladarsingh hope relief could soon be coming for workers in the retail sector, as the national covid19 vaccination programme is accelerated.

They welcomed the reopening of the food and manufacturing sector.

Sookhai said sales in the former seemed to be generally low and it was uncertain how long it could maintain current prices, with the increasing prices of goods.

But he said, "With at least 16 per cent of the population vaccinated and that number increasing exponentially daily due to the availability of vaccines, we can actively start looking towards reopening the entire economy."

He said the retail sector "is continuing to suffer if it does not receive some sort of aid or at least some indication as to when that sector can restart businesses."

Sookhai said owners of malls and other buildings which house retail businesses and individual retail stores have been struggling.

He was concerned that the full effects of the pandemic have not been realised, and warned, "I hope we are able to revive our economy in time before we spiral into a greater economic depression."

Singh said while food establishments were allowed to reopen on Monday, those in street and mega-malls remain closed. Under the current public health regulations, malls are among the businesses that have not been allowed to reopen yet.

"Retailers continue to plead with the government for some ease of restrictions, especially in light of the mass vax drive currently under way."

Singh said over 50 per cent of his chamber's membership are concerned that when they get the green light to reopen, they may not be able to.

"The extended periods of closure over the past year and a half have left their savings in such a debilitated state that business continuity is nearly impossible."

Singh said some of the chamber's members "can no longer financially support their furloughed staff as they had done during the first lockdown."

While government support was evident, he said, "Unfortunately it was not sufficient to meet the basic needs of the many thousands of workers."

So it is possible, he felt, that some businesses could reduce staff when they reopen.

"Sales are not expected to boom in the short term, and whatever profits are made must be allocated wisely to cover all expenses incurred by the business."

He added only a small portion of those profits would go to workers' salaries, with the rest going to cover expenses like rent and utility rates.

Leladarsingh said many retail companies could be facing permanent closure and this would increase the number of unemployed people in Trinidad and Tobago.

He said the Government needed to partner with the private sector to set a roadmap for the revival of the business sector.