Payments delay hits business, economy

WHILE business supports efforts by authorities to stabilise the economy, it is concerned that some of the measures being implemented could seriously affect the operations of many companies.
Speaking to The Financial Gazette this week, as some companies continue to count the cost of last month’s temporary freeze of payments to government suppliers by Treasury — in a bid to curb overpricing and inflation — business also warned that this could have dire consequences for the economy.
The measures have seen many organisations, especially small and mid-sized enterprises (SMEs), struggling to pay their workers and other obligations, including taxes.