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  • 3 months ago
The Confederation of Regional Business Chambers is gearing up for the upcoming budget set to be unveiled by Finance Minister Dave Tancoo at the close of the fiscal year. Chairman Vivek Charan says the business community is bringing a long list of priorities to the table, aiming not only to influence policy but also to engage in meaningful dialogue with government.

Nicole M Romany files this report.
Transcript
00:00Confederation Chairman Vivek Charan says anticipation is high as the government prepares to unveil
00:07its fiscal package, describing it as a major first move of the current administration.
00:12Speaking on the morning edition, Charan notes that many needs were unmet under the previous
00:18government and there is now an expectation that the current government will address them.
00:24When we look at what are ones in the budget, I really have to go towards what some of the
00:29member chambers of the Confederation have wanted. One of them is the Maritime Association,
00:35which, you know, have been working for a very, very long time, Jesse James and these guys,
00:39asking for a digital first clearance system for yachties, which is something that we have in
00:45Grenada, which for some reason we cannot get off the ground in Trinidad. Charan adds that banks'
00:52decisions to slash credit card limits by 50%, including corporate cards, has resulted in
00:59panic and forced sudden lifestyle changes. He describes the move as a bitter medicine
01:05to swallow, but says he remains cautiously optimistic that brighter days lie ahead.
01:12Looking at it in terms of the glass is half full, what I would hope is that by cutting credit
01:21cards by the credit card limit by 50%, the bank now has 50% more ability, in a sense, right,
01:31to provide forex through the bank directly, in which case cutting the credit card limit means
01:40that they're going to take on more responsibility upon themselves for the distribution of forex.
01:45Charan hopes the business community will have the opportunity to engage with government
01:51on strategies to retain foreign exchange within the country and a boost foreign exchange generation.
01:58There are many inefficiencies on the ground. There are many bottlenecks on the ground.
02:01And I would hope that the government would have discussions with us and we can point out
02:06what some of these bottlenecks are.
02:07Nicole M. Romany, TV6 News.
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