The Suva Retailers Association has highlighted the difficulties faced by businesses in 2023, underscoring the significance of compliance with established rules and regulations. Association President Jitesh Patel noted that retailers have been particularly challenged by the integration of the recent Value Added Tax (VAT) reduction into their pricing strategies, especially in light of the recent national budget announcements.
Patel emphasized the rigorous oversight implemented by government and regulatory authorities to ensure that the advantages of the VAT cut reach consumers. The association collaborated with the Fiji Revenue and Customs Service and the Fijian Competition and Consumer Commission to facilitate compliance among retailers. “I’m proud to say most of our retailers were able to manage it. Another key focus for us has always been thriving, not fighting,” Patel stated, reflecting a sense of achievement amidst the challenges.
Nonetheless, Patel raised concerns about the Employment Relations Bill, criticizing it for being excessively one-sided and lacking sufficient consultation with the business sector. Despite limited initial engagement, he observed improvements due to the efforts of the Parliamentary Consultation Committee.
To amplify the concerns of retailers, the association released several press statements and worked closely with the Fiji Commerce and Employers Federation. These collaborative efforts have led to notable progress, with Patel affirming that the business sector has effectively articulated its position.
Looking ahead, Patel maintains an optimistic perspective that 2024 will bring about more favorable conditions, particularly through legislation that fosters better government relations and improved consultation processes. As retailers confront these challenges, their resilience and proactive measures suggest a hopeful outlook for the future of Fiji’s business community.