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  • 1 year ago

A Tobago businessman in the hospitality industry is also speaking out on the forex issue. Kameal Ali spoke with TV6's Elizabeth Williams on the matter. More in this report.





Transcript
00:00The forex situation is affecting the Muslim community, Muslim businesses and all business
00:05people in Trinidad and Tobago because we know now is a time where people have to bring in
00:09their containers, they have to bring in their goods, they make their online purchases and
00:12so on and it's so limited because just imagine when you go to the bank now to ask them for
00:16$200 you have to beg for it.
00:18Mr Ali said citizens are often embarrassed when facing their financial institutions.
00:25You have to go and provide a ticket and so many different things and I feel it's very
00:30sad where we have reached this situation where the US money is concerned to get US dollars
00:35it's very hard and so on.
00:36So again it is very important that the powers to be, they get investments in the country
00:42so that foreign exchange can be generated.
00:45Mr Ali said foreign direct investment remains paramount.
00:49A couple of years ago we were laughing at Guyana, look at the Guyana situation right
00:53now.
00:54They are moving forward, they have so much of the US and so on because with regards to
00:57the finding of the oil and so on.
00:59But this is why it is important that foreign investors and foreign investment is very important
01:05you know in the country and this will help with regards to the foreign institution but
01:11it's really affecting everybody in a terrible situation right now.
01:14Ali said the protest action by workers at the Port of Spain port has only made matters
01:19worse.
01:21Look at the next thing credit card, all that have been cut in half.
01:24So when people have to make purchases and so on they find it very difficult.
01:28So the foreign exchange is one problem, look at the next problem with the prostitution
01:32is happening right now.
01:33So much of protest and all these things are happening at a time where it's the most busiest
01:37time for the year.
01:38The Christmas is coming in, people expect to get their goods, people expect because
01:41this is a time that people want their goods to reach out to the public because it's a
01:45time you get the most sales and if the goods and services don't reach out to the public
01:49at this time, what's going to happen?
01:51Elizabeth Williams, TV6 News.
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