The head of the Chaguanas Chamber of Industry and Commerce, Baldath Maharaj says the increase in minimum wage to public servants should have been across the board.
He said while the Finance Minister’s increase from $20.50 to $22.50 is welcome, this should be implemented for all to avoid creating further inequity between public and private sector workers.
Maharaj said a standardised approach would ensure fairness and reduce wage disparities across industries.
He added that one of the chamber’s “key disappointments” was the non-implementation of the eagerly anticipated SME forex facility.
“This initiative, which was promised in the last budget, would have significantly supported small and medium enterprises (SMEs) in accessing much-needed foreign exchange to grow and develop. The absence of this facility is a missed opportunity to bolster the SME sector, which is a vital contributor to the economy,” he said.
Maharaj said the chamber was also concerned by the insufficient allocation for agricultural development.
“With Chaguanas playing a significant role in the country’s agricultural output, we expected more robust measures to promote food security and reverse the declining agricultural production trends. Food security is a national priority, and greater investments are needed to strengthen this sector,” he said.