Foreign Exchange accessibility remains a major problem in Trinidad and Tobago.
Confirmation of this was received today as two of this country’s business association presidents said their memberships continue to complain and face challenges because FOREX is limited.
President of the Downtown Owners and Merchants Association, Gregory Aboud this morning said the disbursement of foreign exchange from commercial banks seems to have diminished.
In South Trinidad, businessmen and woman are also feeling the pinch. Daphne Bartlett of the San Fernando Business Association, told News Power Now that foreign suppliers have begun denying local merchants credit as a result of the foreign exchange problem.
The San Fernando Business Association Head sought to clarify that business people pay 20% duty upon importation of their goods plus 12.5% VAT, sums that are all paid to government immediately upon receipt of their shipments.