THE plans to jack up utility rates would see many manufacturers packing up in Trinidad and Tobago and opening their plants in more business-friendly regional countries.
Manufacturers, both small and large, have stressed that the massive increases in rates and tariffs to be imposed to the Regulated Industries Commission (RIC) would drive them out of business.
They are already dealing with slim profit margins, slow sales, and increased competition.
The marketplace is facing the realities of high unemployment and suffering among consumers, worsening inflation, delays in receiving Value Added Tax returns, insufficient foreign exchange, steep fuel costs, and other impediments.
There is an absence of an enabling business environment, unlike what exists in Guyana and other forward-thinking Caricom countries.
The PNM Government’s abject lack of business sense is continuing to negatively impact Trinidad and Tobago.