Local entrepreneur urges new government to prioritise compensation for business losses

BY NED GAGAHE

A Honiara based businessman who has been victim of the COVID-19 Pandemic and riot in 2021 has urged the new government of Prime Minister Jeremiah Manele to prioritize addressing and resolve business losses the incidences have subsequently caused to business houses in Honiara.

The businessman who requested not to be named emphasized that after the two incidences, the Democratic Coalition Government for Advancement (DCGA) of former Prime Minister Manasseh Sogavare devised paying compensation for loss of the business.

However, the businessman stated that compensation efforts by the DCGA government fell short of adequately addressing the losses suffered by businesses.

This paper understands in 2022, the DCGA government announced a commitment of $200 million for the reconstruction and rehabilitation of buildings and businesses affected by unrest.

Additionally, COVID-19 lockdowns led to an estimated $81 million in revenue loss for the government.

A 2022 technical report by the ADB revealed that the 2021 riot directly impacted 126 businesses, both public and private properties.

Meanwhile, the businessman, in a plea, believes it would be beneficial if the new government acknowledged the contributions of local businesses by fulfilling pending payments to those who are still awaiting them.

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