The Congress of Trade Unions and Staff Associations (CTUSAB) today challenged the private sector to get cracking on investing in new projects and creating jobs to boost the economy’s recovery.
CTUSAB General Secretary Dennis De Peiza in a statement sided with a recent call by Prime Minister Mia Mottley for the private sector to help ensure the growth of the economy in light of prevailing challenges.
He said: “CTUSAB takes no comfort in the fact that thousands of Barbadians remain unemployed and more so, given that the possibility exists that further layoffs may be imminent, is a cause for concern.
“Should this and the likely increase in taxes for public services come on stream in short order, the impact is likely to be devastating on the working class, as it will reduce their purchasing power and standard of living.”
De Peiza stressed that now was the time for the private sector to play its role as “the engine of growth” and take up the challenge of investing in new projects which are both viable and sustainable.
He continued: “There is a need for private sector enterprises to move beyond the confines of retail and wholesale business and undertake to invest in manufacturing, agro industries and projects associated with the digital and information age.
“There is also a need for the private sector to invest in projects which are directed at generating foreign exchange.
“The time is right for Barbados to develop an export culture.
“CTUSAB has constantly maintained that without new projects coming on stream, the island’s economy is not likely to grow.”
