THE EDITOR: PriceSmart’s explanation for the erroneous credit card charges and then shortfall in the refunds raises more questions than it answers.
What type of system does it have that charges or converts to US dollars behind the scenes? Last time I checked my charges were in TT dollars and so should the exact refund amount.
This comes as we question the preferential allocation of US dollars across sectors and we already know that PriceSmart is one of the top users of foreign exchange, plus being a multinational most profits are being repatriated abroad in US dollars.
PriceSmart might have a few warehouses here, but essentially it is packing grocery items in containers and sending to Trinidad, while usurping a huge amount of foreign exchange.
Isn’t it better to let smaller merchants have more US dollars access across the country?
C ALEXANDER
Port of Spain
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