VISHANNA PHAGOO
Put the people first. It's the top item on the Supermarket Association of TT's wishlist for the 2023 budget which the Finance Minister, Colm Imbert, presents on September 26.
Its president Rajiv Diptee says Government should consider how people have been affected by high prices, international shocks and the socio-economic effects of the covid19 pandemic.
"The administration must carefully consider how the population has been affected in terms of their earnings and spending power, and this will impact the wider inflation already being felt. We urge careful restraint in the public interest where these decisions are to be taken."
Diptee said the post-covid19 world is being dominated by exorbitant energy prices in petrochemical markets and the lingering concerns of people turning to a life of crime to deal with the financial pressures.
[caption id="attachment_975177" align="alignnone" width="1024"] Rajiv Diptee, president of the Supermarket Association, says the 2023 budget should maintain social safety nets for the vulnerable in TT. - ROGER JACOB[/caption]
"Mechanisms should be continued to ensure assistance and grants are available as social safety nets to protect these most vulnerable families and persons. Crime, in particular, needs to be addressed by the acknowledgement that the business community continuously operates in an environment of uncertainty, insecurity and fear."
He added that attention should be placed on the process of firearm users licences applications (FUL) as a means of protection.
"In lieu of an efficient response system by the police service, consideration must be given to expedite the existing applications for FULs with the requisite initial training and subsequent evaluations. We also feel that crime needs to be treated more directly by creating harsher penalties and deterrents for offenders as violent crime has increased alarmingly. Crime also has an impact on deterring local entrepreneurs and foreign investment where the cost of security in particular, remains among the highest cost items in operations."
Diptee said the larger problem at hand is food security because of the many pressures that contribute to high prices.
"Hopefully, some of the input cost pressures in the supply chain will ease in the coming year, but that depends on developments in Europe and China and their impact on supply chains."
He said the agri investment forum and expo held in Port of Spain in August reflected useful synergies for local producers locally and regionally.
"We want to see that expanded upon in the budget allocation for agriculture as the sector receives priority. Any impact on fuel prices and upward adjustments to rates and utilities can create inflationary pressures for a population that is still only recovering from the pandemic."
The American Chamber of Commerce of TT (Amcham) on the other hand hopes for the acceleration of the digital transformation of operations in the country to bring a sense of economic recovery and growth.
"This will require implement
