May 11, 2020

“More Consideration Must Be Given To Opening Up Businesses In the Service Sector.”

By Newsroom

An appeal has gone out to the government to reconsider opening up the services sector especially in light of the fact that 55% of the sector terminated all full-time employees. The call comes from the Trinidad and Tobago Coalition of Services Industries (TTCSI) which currently representing 51 Associations with a combined membership of approximately 662,510 companies and persons. “We are deeply concerned about the lack of focus on services providers in the recent phased re-opening announcement made by Prime Minister the Honorable Dr Keith Rowley. Whilst we commend the efforts of the Government in their handling of the Covid-19 pandemic, more consideration must be given to supporting resumption of business in the services sector,” the TTCSI said in a statement on Monday. “Services contributed approximately 60% to Gross Domestic Product in the period 2011 to 2018. Furthermore, a recent joint TTCSI and TTMA economic impact assessment study found that 55% of services companies terminated full time employees during the Stay at Home Order and more than 60% of services companies indicated that they would require urgent financing if operations were restricted for three months. “Some of the service industries that have been negatively impacted are event planners, tour operators, contractors, architects, performing artistes, engineers, massage therapists, barbers, nail technicians and hoteliers. The TTCSI is deeply concerned that services were not prioritized in the recovery plan, and offer our support to the National Economic Recovery Committee to rectify this. We look forward to working with all stakeholders to find a balance between life and livelihoods,” the TTCSI said.
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