Financial Mirror (Cyprus)

The monster is reappearin­g

- Μy Antonis Loizou

I wonder if there are people in this country with a basic brain who are trying to destroy the economy at a time that it is on the track of recovery. I consider the dangerous path that this Government is following with various handouts, increases for the civil servants and the handouts to various pressure groups which encourages the appetite of demand for other groups, as well.

With what logic do some people insist that shops should be closed at weekends on the one hand while all of us, including the President of the Republic is trying to attract foreign investors to the island?

According to the Ministry of Labour, the extension of working hours of shops and supermarke­ts and malls during weekends has secured 7,000 jobs, be it at a basic income of EUR 500 p.m. for days a week. These same people are now unemployed and the rest of us, through our taxes and contributi­ons cover their unemployme­nt pay. I was shocked by a female worker protesting outside parliament, stating that her EUR 500 income does not cover her rent and living expenses and she cannot cope.

The argument by those objecting to extend working hours is dangerous and touches on the overall economic climate. If we are to take for example the cruise ship visitors (nowadays not many) and tourists, will they find the shops closed on weekends? Will the old Nicosia city, the Limassol castle area, the Paphos port, the old town of Larnaca, that are now thriving after years of efforts for their revival be closed down? If one wants to be treated equally in this country, not only shops, malls, but restaurant­s and even offices too should not be allowed to work over weekends. Similarly, the Ayia Napa tourist areas should close down. Are we serious?

I find Sunday supermarke­t shopping most convenient and this is born out by the number of visitors who shop over the weekends. People who shop on weekends are mainly profession­als and families, who do not have the time midweek.

The target should be only what is best for consumer. It is obvious that small shops may not be able to compete with the longer hours. For these 200 or so small shop keepers employing 1-2 persons, should we fire the newly employed 7,000 people? A list of names with IDs and places of their employment has been provided by the Government to parliament, but some of the members just do not want to know (small politics to the detriment of the economy and the consumers in general).

Cyprus is a tourist destinatio­n, and this is convenient for foreign visitors, as well as for permanent residents who want to have their life here as convenient as possible. For this reason, foreigners who are used to shopping in their own country at all hours will find this developmen­t negative. This adds to the other negative side effect that it creates — putting off would-be property buyers/ investors and others from being attracted here.

Initially, we looked at the malls with skepticism but seeing now how many young families spend hours there in safety and in a controlled environmen­t, no doubt that it is the shopping of the future. So, we must decide that small shops have no positive future, unless they specialise in a specific sort of business the larger stores are unable to cater to. On the one hand we try to project Cyprus as an internatio­nal (ex) financial centre and on the other to place commercial restrictio­ns which existed 40 years ago when circumstan­ces were different.

We cannot attain recovery and employment, because a sector of people, who, driven by self-interest, have no inhibition­s about causing damage to the retail trade. Although we can understand the Communist Party’s stand (AKEL) on the subject, we can excuse it, because it is their philosophy – but then how about the others?

The more one tries to understand certain decisions taken by the House the more disappoint­ed one gets – so it is no wonder why 50% of the population do not trust politician­s and don’t turn up to vote.

A great shame, but most of all a great crime against the unemployed and a dangerous small politics game.

www.aloizou.com.cy ala-HQ@aloizou.com.cy

 ??  ?? Antonis Loizou F.R.I.C.S. is the Director of Antonis Loizou & Associates Ltd., Real Estate & Projects Developmen­t Managers
Antonis Loizou F.R.I.C.S. is the Director of Antonis Loizou & Associates Ltd., Real Estate & Projects Developmen­t Managers

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