Businesses under pressure after fuel price hike

An increasing number of businesses are becoming vocal about the increase of fuel prices, many anticipating louder claims for salary increases.

Industrialist Francois de Grivel told Defi Media that many businesses are having increasing difficulty to absorb increases in operational costs.

Representatives of several sectors converge in claiming the recent increases will have “complicated effects”.

Economists Erig Ng and Bhavish Jugurnauth predict inflation rate, currently at 11%, could creep up to 15%.

“It will have a snowball effect,” said Eric Ng.

Trade Unionists urged employers to increase
transport allowances.