The Chaguanas Chamber of Commerce Advocates for Fiscal Responsibility Amidst Salary Increase Debate

The Salaries Review Commission has a role to play and one can only assume that based on their guidelines, a salary increase was recommended.

Approval by cabinet, and acceptance by parliamentary officials will be seen by the public at large as highly irresponsible

The cost of doing business has shown exponential increases thereby reducing overall profitability for business owners. In addition to this some businesses would commence repayment of their government guaranteed loans which was granted to assist in their post-pandemic operations. Effectively, profitability would be lower, and this also makes it difficult to meet higher salary obligations especially the minimum wage.

As such, if this increase is accepted, it would appear that those in authority are showing double standards.

The message coming out from the government is that the average citizen must tighten their belt whilst they take additional austerity measures to keep the economy afloat.

We fully understand the inflationary pressures faced by all of us over the years.  A responsible government would lead the way by showing the general population that they are also prepared to tighten their belts.

There has been calls by businessmen to apply the same 4% offered to public servants, rather than what is being suggested by the SRC.

Some discussions suggest that if gas is obtained from the Dragon Field this would increase our revenues. Information reaching us is the gas would not be sufficient to take us to levels necessary to fulfil the requirements of downstream industries. However, it may be prudent to wait until we realise any revenues from dragon gas, and after these revenues are spent on the economy’s development, they can then consider an increase in their salaries. It may be more justified at that point.