Economy getting worse: CPL

By DALE LUMA
THE year has started off on a bad note for the country with the general state of the economy going from bad to worse, according to a major retailer.
City Pharmacy Ltd group founder Sir Mahesh Patel told The National that there was currently no stimulus in the economy with a cash-flow issue in the community.
He said outstanding Government payments to businesses was not helping the situation with the State owing CPL K4.6 million since last year.
“It has been a big struggle from the beginning of the year,” Sir Mahesh said.
“There is no new job creation, no economic stimulus plans from the Government, and a general lack of funds in the community.
“There was a little increase in the pharmacy division, but the supermarket, hardware, and other businesses have been down. We are getting inundated for support and help from all sorts of sectors, from individuals, families, health institutions and even the judiciary.
“We recently provided free masks for the courts in Jiwaka after a judge there requested for help.
“And there is only so much we can do as a company, with a key focus to keep all our 3,000 staff employed and kept in their jobs.
“With the Government not paying back money it owed pushes us back in our ability to help others.”
In terms of the new measures imposed on the retail sector as part of the national isolation strategy, he said: “We are adjusting our staff scheduling, logistics and supply chain to adjust.
“Its early days so far. We should get a feel of this in the coming weeks. There will be a big impact on the entertainment industry, but on a positive side, there will be more money for families to spend on food and other basic needs.”