Tuesday 24 October, 2017

Private sector association ready to talk business

The Barbados Private Sector Association (BPSA) has called a mass meeting with its members to discuss the state of the country’s economy.

President of the BPSA, Charles Herbert, said the association’s view of the country’s financial position is one of the priority topics for the meeting. He also said the BPSA will be sharing recommendations as to what should be done to remedy the country’s fiscal challenges.

Herbert said members will also be updated on the discussions coming out of the Social Partnership meetings and the sub-committee meetings which followed. He explained that after the committees met, final reports with recommendations from the private sector and the unions were submitted two weeks ago and the leaders of the Social Partnership met this week to discuss government’s reaction to the recommendations.

He said it is the hope of the BPSA that the recommendations they put forward will be included in this year’s budgetary proposals “promised before the end of May”.

“Unfortunately, since the Budget is confidential, the committee and the Social Partnership have no knowledge of what is going to be in the Budget. We know what we have recommended and Government has assured us that they have taken the recommendations seriously and the Budget will deal with it but we have no details of that promise.”

If the Budget is exactly what we recommended, then action will not really be appropriate so to some extent we have been silenced until we hear what comes out of the  Budget. If what comes out of the Budget is exactly what we recommended then we can say ‘well done’ and if not then we will have to decide whether they are right and we are wrong.”

The meeting will be held Friday, April 21 at the Lloyd Erskine Sandiford Centre at 4 p.m.