Funds from the second drawdown from the Heritage and Stabilisation Fund (HSF) will be used to partially fund this year’s development projects in 21 Ministries, 100 state enterprises and the Tobago...
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Foreign used car dealers laying off workers
Foreign used car dealers have started laying off staff because sales have slowed down and they have not recieved their 2016 quotas. Visham Babwah. president of the T&T Automotive Dealers Association (TTADA) said some dealers had run out of stock and had no choice but to stop operating.
Speaking at a news conference in Chaguanas, Babwah said TTADA officials discussed their concerns with Minister of Trade Paula Gopee-Scoon in October but their pleas seemed to have fallen on deaf ears.
He said when the dealers got their quotes they will know the amount of vehicles they would receive and the permissible age of importation. However, he said, even if dealers get their quota packages tomorrow they would not have cars for sale until March. He said appropximately 10,000 people are directly or indirectly employed in the sector and many are already feeling the bite of the recession.
Babwah said TTADA is appealing to the Government to hold consultations with industry players before any decisions are made that affect the industry. He said foreign suppliers from Japan have also set up shop in T&T to encourage persons to import their own cars.
TTADA vice president Rhondall Fields said he sent home workers in December after his quota ended.