One Opposition Member of Parliament is urging the government to quickly implement strategic measures to steer the national economy out of the current sharp decline caused by the Covid-19 pandemic.
The government is also being urged to take immediate steps to boost agricultural production, so the country could stand a better chance of feeding itself, reducing the steep food import bill, and saving foreign exchange.
Member of Parliament for Mayaro, Rushton Paray, says there must also be discussions with the private sector, including manufacturers and SME entrepreneurs, on specific incentives to boost output and to attract increased domestic and export markets.
The ruling administration is also being asked to follow progressive administrations around the world and employ measures to reverse the economic deterioration in Trinidad and Tobago.
MP Paray says failure to do so could lead to a higher cost of living, food shortages, more job losses and business closures, and a greater debt burden.
In a media release Thursday, MP Paray warned there could be steep price increases and shipment delays as a result of an international supply chain crisis.
MP Paray said global experts have advised a shortage of containers, along with production, labour, and other pressing issues, have jacked up shipping costs and, as a result, caused higher product prices.
He said this emergency could seriously affect local consumers in their pockets, and, among other things, send up the cost of placing food on the table.