Lee seeks answers on Foriegn Exchange Crisis
In an effort to effectively represent one of the most critical concerns of our national public ,I sought leave in accordance with Standing Order 17 to move the adjournment of the House at today’s Friday 19th February 2016, sitting of the House for the purpose of discussing a definite matter of urgent public importance, namely:
“The crippling effects of the restricted access to foreign exchange by businesses and individuals.”
The matter is definite because it pertains to the current situation faced by businesses and individuals who are constrained by the minimal and nominal amounts of foreign exchange made available to them for purchase from commercial banks in Trinidad and Tobago;
It is urgent because if this disastrous situation is not rectified as soon as possible, businesses and individuals will not be able to honour their contractual and financial obligations to foreign suppliers;
And it is of public importance because if this situation is allowed to continue it will lead to the collapse of businesses, the loss of jobs, the destabilisation the economy, a loss of confidence in Trinidad and Tobago by foreign investors and suppliers and an unprecedented plethora of social problems.
It was quite unfortunate however that the Honourable Speaker of the House did not see it as necessary to debate at this point In time and instructed that it be pursued under Standing Order 16.
This issue remains one of critical importance to the economic and social framework of our nation and I will continue to champion this cause until Government is able to provide not only a timeline but a sustainable plan to alleviate this situation.
Dr. David Lee
Member of Parliament
Pointe a Pierre