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Businessman Muhammad Nassar

Businessman Muhammad Nassar

Businessman Muhammad Nassar would like to see small and medium sized businesses benefit from the 40 per cent procurement of all Government contracts promised by the late David Thompson.

He expressed this view today as Minister of Finance and Economic Affairs, Chris Sinckler, prepared to present his Budget tomorrow.

The outspoken businessman also called on Government to put a halt to financial institutions imposing compound interest on loans to their clients and suggested that Government reduced the level of rent to all small and medium sized business that currently occupy space it owns.

He noted that while Government had written off $19 million owed by the Barbados Turf Club, it continued to threaten small and medium sized businesses who owed it rent.

Nassar also called on Government to desist from the practice of giving all the big contracts to a minority and argued that if contracts were more evenly spread a wider cross section of the society would benefit financially.

In condemning the current marriage between Government and “the minority”, Nassar said: “The Barbados Government is afraid of the minority group who control most of the resources.”

Nassar argued that this period in the island’s history was the best time the Government and the unions had to decide on a programme of shared ownership of businesses.

Commenting on the role the church had played in recent times, Nassar charged that they were partly responsible for many of the ills the continue to plague the country. (NC)

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