Date: Tuesday, 19 May 2020
URGENT REQUEST: ALL SUPPLIERS-MORATORIUM ON PRICE INCREASES
The Pre Covid19 economic landscape was a straightened one not only nationally but globally. COVID19 has severely and destructively exacerbated the situation to a virtual crisis point.
As a Chamber we have been at the coalface of witnessing the extent of the crisis and unfortunately given the prognosis is still an unpredictable we foresee worse to follow. The damage to the business sector and been widespread at all levels of business; however it is the SMME sector that will unfortunately suffer the brunt of the effects. This is a critical sector not only for job retention but also as a propeller of economic activity.
The Chamber is concerned at the escalation and in some cases spikes in input prices in many industries. We are cognisant of the supply chain dynamics that sometimes compel these increases yet we are confident there are areas in which these could be mitigated to allow for stability and affordability in this rather constrained trading environment.
The Chamber calls on suppliers throughout the supply chain to place a moratorium on all price increases for at least the next six months to allow for some stability to return to the trading environment whilst we traverse the worst path of the pandemic. Our call is made not only to protect and sustain existing businesses but to mitigate the downstream effects of increased pricing to the end users and consumers many of whom themselves are in dire straits.
We are in a period of uncertainty and turmoil and it cannot be “business as usual” and the business fraternity has to embrace the social compact of rebuilding our economy in a spirit of Ubuntu. We are optimistic that we will overcome our challenges, but the time for decisive and bold action is now.
We trust your altruism in these rather perilous times will create greater opportunities for us when the tide has past.
Our best wishes and thanks.