George: Now is not the time for fuel hike

Chairman of the Tobago Business Chamber Martin George says Government’s decision to increase the price of fuel at this time, may not be the “best thought out option” and with businesses now given the chance to reopen after a 2 year hiatus, the timing could not be worse:

“The Chamber fully understands and appreciates the need of the Government to balance its budgetary allocations. It is unfortunate that coming out of the pandemic, it does not appear to be the best thought out option, given the fact that we have now emerged from all the restrictions. Businesses are now trying to get themselves back on their feet.”

Speaking with Loop News, George said once the cost of fuel goes up then everyone is affected by the “knock-on” effect. He said therefore there should have been sufficient time allocated for businesses and consumers to prepare:

“We would have hoped that the Government would have probably tried to make an announcement, to say maybe from January 1, 2023, this price increase will take effect so people would have the time to adjust to it. They would have some time to make preparations for it. Businesses would have some months to get back their sales and customers. Rather than being hit with this after we have had increases in the price of bread, increases in the price of flour. The citizenry is reeling from aftershock and aftershock.”

George is also calling on the Government to take more “creative and proactive steps” to try to manage the economy rather than raise taxes and prices to increase revenue and balance the budget.

Date: April 10, 2022

By: Beena Mahase