Businesses Demand Action on Rising Costs

North Cyprus News - Supermarket - Shopping

Several business organisations are set to protest today, calling for immediate action to address surging prices. In a joint statement, they demand subsidies for electricity, gas, and essential food items, Kibris Postasi reports.

The organisations involved include the Cyprus Turkish Chamber of Commerce, Cyprus Turkish Women Entrepreneurs Association, Cyprus Turkish Business People Association, Business Women Association, Northern Cyprus Business People Association, Cyprus Turkish Employers Union, TRNC Shipowners Association, Cyprus Turkish Ship and Marine Vehicles Agencies Association, Cyprus Turkish Fast Delivery Products Suppliers Association, and the TRNC Free Business People Association.

The statement expressed deep concern about the impact of the high cost of living, stating, “Rising costs have made life unbearable, and businesses can no longer operate effectively. Our competitive edge has vanished. We must unite all our resources to combat these cost-of-living pressures; it is a social obligation”. Describing the situation as a “cost of living vortex” worsened by inadequate measures, the statement urged, “We must break free from this vortex. The government must tackle the sources of inflation. Prices for essential inputs, such as electricity, gas, and staple foods like meat and milk, should be temporarily reduced through subsidies. Additionally, fiscal policies should be revised, and measures should be implemented to address savings gaps and informal practices within the public sector”.

The organisations believe these actions would ease the burden on households and revive business competitiveness.

A “No Goods Withdrawal from Customs” protest is planned today at the customs checkpoints in Nicosia, Famagusta and Kyrenia, with further protests if demands are not addressed.

We call upon our government to lead this effort. With the support of our people, we believe we can succeed”, the statement concluded.

Kibris Postasi

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