Prime Minister Dr Keith Rowley has given the assurance that jobs will be created through Government’s public housing projects and the agriculture sector.
He said Government will also work with the private sector to stimulate investment activity which will generate employment.
The PM spoke about the country’s unemployment levels, which had been increasing in the last few weeks, during an interview on CNC3 Wednesday night.
Rowley said some jobs losses were as a result of decisions taken by companies with head offices abroad.
“We cannot fool ourselves, our revenue earners are not earning across the board, oil gas and commodities—they are all down in price. That has brought on issues of foreign exchange shortages and job losses. There is a reducing in the flow of foreign exchange. So why should anybody be surprised that there is not as much foreign exchange, as there was before?”
While there was some foreign exchange in savings, Rowley said there was a danger in spending all of it trying to meet current demands.
He said if the Government mishandles this issue it can become a “chronic devastating problem. Right now it is a challenge that requires a certain amount of level-headed and firm decision and that will be made.”
In going forward, Rowley said, the country would have to adjust in order to sustain the economy.
Rowley also slammed Consumer Affairs Division (CAD) for advertising the date and time its VAT inspectors were visiting supermarkets to monitor food prices.
Rowley described the move by CAD as being “folly.”
It was foolish, Rowley said, on the part of CAD to advertise the date and time its VAT inspectors were visiting supermarkets.
“They surprised me when they announced they going to a particular area and date to see what they (supermarkets) are doing. That is just folly. They (inspectors) are the watchdog for the public. They should have just turned up unannounced...see what is going on.
“I am saying prosecute people... who are caught doing that, even if it is only five cents involved, if people are taking advantage of the consumer.”
While some businesses have not been passing on the reduction in Value Added Tax (from 15 to 12.5 per cent) to consumers, Rowley said they were using this as an opportunity to profiteer.
The PM said some people have been taking advantage of consumers.
He said he expects consumers to select where they buy and exercise their buying power.