Businesses keen to see what govt can offer for ’21

CITY Pharmacy Ltd (CPL) director Sir Mahesh Patel says businesses are hoping to see what stimulus initiatives the Government has in its 2021 National Budget lockdown this week.
“I am not sure what we will see in the budget because the Government hasn’t got any money but it will be interesting to see what stimulus they will give,” he said.
“Unlike Australia, Papua New Guinea hasn’t got the luxury of giving handouts, cash, we do not have that money. ‘How can the Government fire up the economy?’ is the big question.
“Let’s see what Treasury pulls out of the bag.”
Sir Mahesh said the Covid-19 had the biggest impact on businesses.
“Business has been tough, everybody says it is because of the Covid-19 but it is just the general economy that is so slow at the moment.
“There is no job creation, no industry is starting and we can’t keep relying on mining.
“Here at CPL, we are spending a lot of time with agriculture, with our farmers, that is the other thing that I am very passionate about.
“In retail, we are impacted because people do not have the spending power now.
“Many have been laid off, lot of companies have downsized.
“Obviously, there is lack of employment, so with that comes lack of spending power, and that is the big challenge.
“People just don’t have the money to spend like before.”
He said businesses would manage and carry on but there would not be any significant growth in the economy unless there was incentives and stimulus.
He said despite business being slow there was hope that things would improved a little over the Christmas period.