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1% controlling the banks to wipe competition out.Ben_spanna wrote:so its alleged that a certain local bank received close to US $5 MILLION dollars allocation recently, yet the bank itself is still telling commercial customers that it has a lack of funds available to them.
SO where and who has the bank given all of this currency to?
I think its time that legislation be put in place to have them accountable and even go so far as to make it mandatory to have it published as to Who is receiving such a large allocation of Foreign exchange.
imagine manufacturers who NEED the currency are being told that they cannot get any......
Ben_spanna wrote:so its alleged that a certain local bank received close to US $5 MILLION dollars allocation recently, yet the bank itself is still telling commercial customers that it has a lack of funds available to them.
SO where and who has the bank given all of this currency to?
I think its time that legislation be put in place to have them accountable and even go so far as to make it mandatory to have it published as to Who is receiving such a large allocation of Foreign exchange.
imagine manufacturers who NEED the currency are being told that they cannot get any......
Redress10 wrote:If manufacturers are really "manufacturers" then they not actually manufacturers. They are actually importers masquerading as manufacturers who import raw materials and just repackage products and sell as "finished products".
Dizzy28 wrote:Redress10 wrote:If manufacturers are really "manufacturers" then they not actually manufacturers. They are actually importers masquerading as manufacturers who import raw materials and just repackage products and sell as "finished products".
If we do not have raw materials here due to our insignificant land base where else would you have manufacturers get their primary materials from if they do not import it?
Or you rather we just import all finished goods and have no manufacturing at all?
Redress10 wrote:If manufacturers are really "manufacturers" then they not actually manufacturers. They are actually importers masquerading as manufacturers who import raw materials and just repackage products and sell as "finished products".
Redress10 wrote:Clearly they serve no real purpose in business if they can't generate their own foreign exchange.
How many of these "manufacturers" would still be in business without government protectionist policies?
EFFECTIC DESIGNS wrote:If Rice is one of our biggest import and loss of USD why then don't we grow our rice locally?
How hard could it possibly be?
Redress10 wrote:Clearly they serve no real purpose in business if they can't generate their own foreign exchange.
How many of these "manufacturers" would still be in business without government protectionist policies?
Miktay wrote:What many local manufacturers actually do iz repackage bulk material targeted to local tastes...
Ben_spanna wrote:Redress10 wrote:Clearly they serve no real purpose in business if they can't generate their own foreign exchange.
How many of these "manufacturers" would still be in business without government protectionist policies?
The entire CARICOM region is faltering due to a lack of any restrictions in place to protect its local companies.... Chinese companies are taking over, and are also banking all of our foreign exchange right back out of Trinidad. CARICOM used to have a back bone and they used to have systems in place to do so .
Maybe the local companies that support the economy should all close up and send home all their workers if thats the case, surely by your definitions this should not make any difference to Trinidad.
Ben_spanna wrote:so its alleged that a certain local bank received close to US $5 MILLION dollars allocation recently, yet the bank itself is still telling commercial customers that it has a lack of funds available to them.
SO where and who has the bank given all of this currency to?
I think its time that legislation be put in place to have them accountable and even go so far as to make it mandatory to have it published as to Who is receiving such a large allocation of Foreign exchange.
imagine manufacturers who NEED the currency are being told that they cannot get any......
Dizzy28 wrote:Redress10 wrote:Clearly they serve no real purpose in business if they can't generate their own foreign exchange.
How many of these "manufacturers" would still be in business without government protectionist policies?
What does the labour profile of a local distributor vs a local manufacturer look like?
A distributor hires labourer, sales reps, drivers maybe some business support staff like admin, reception, accounts etc
A local manufacturer has all that and then some - engineers, technicians, chemist, etc.
On an average per employee basis I would guess that Matouk's pays more than Massy Distribution or Micon.
Same thing happened with cement and imported steelBen_spanna wrote:I know what certain people are referring to:
Case in hand, a few years ago a local air conditioning "manufacturer " who was facing stiff importation competition had something done about it.
Over night an import duty of 200% was slapped on all importers of air conditioners into the country that still stands today.
However in that case speculation was that the "manufacturer" was also importing components from china and assembling locally rather than actually manufacturing anything.
This is not the case for some companies that do make things here with raw materials imported , where components themselves are made in house .
Ben_spanna wrote:We really should abandon the shitty worthless trini dollar and start trading all in US currency......
Just make the US dollar our official currency just as we have made Spanish the official language for all our cable companies.
src1983 wrote:Ben_spanna wrote:We really should abandon the shitty worthless trini dollar and start trading all in US currency......
Just make the US dollar our official currency just as we have made Spanish the official language for all our cable companies.
When your USD run out, where you getting seeing as Central bank can't print USD
death365 wrote:join the oecs and use the EC$ then do like the rest of them an have dual currency us an ec
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