Sunday 5 April, 2020

Regional Business Chambers take issue with $100 polymer note

The Confederation of Regional Business Chambers (CRBC) has raised concern over the introduction of the $100 polymer note.

This follows a meeting by members of the CRBC at the Couva/Point Lisas Chamber of Commerce on Monday.

In a statement, the CRBC says it is worried about the impact of demonetisation on their businesses and consumers in terms of sales, security and convenience. 

“The CRBC would like to propose that the Bankers Association of Trinidad & Tobago work closely with the business community to minimise this negative impact and implement measures such as opening on Saturdays/weekends in order make the process a smoother one.”

Meanwhile, the CRBC has commented on the situation regarding Paria Fuel Trading and UNIPET. However, this was before it was announced that an agreement was made between both parties.

It said the shortage had resulted in the following:

- Chaotic lines at NP Gas Stations

- The delay in delivery of goods and services to all communities

-  A drop in sales especially during a peak period of Christmas

The confederation had proposed that:

- Paria enter discussions with UNIPET who already possess infrastructure to alleviate the supply to the country;

- Paria resumes their already pre-existing business arrangements with UNIPET whilst dealing with legal grievances externally;

At the meeting were President of the Arima Business Association and dealer at NP Service Station Reval Chatergoon; UNIPET Chief Operating Officer Kurt Hill; Chairman of the Petroleum Dealers Association Robin Narinesingh; UWI Economist Dr Valmiki Arjoon.

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