Dear Editor,
There is an increasing sight in the stores in Lethem, especially those selling shoes and clothes, for the price tags to be in Brazilian currency (reais). This is because the main customers are Brazilians.
However, this type of pricing is detrimental to the local population because they are subject to the fluctuating value of the reais. For example, items are often priced against a general exchange rate of $100 = 1 real when businesses determine their selling price. However, this rate frequently fluctuates, and there is
sometimes a steep increase in the exchange rate. What this means is that goods priced in reais also increase due to the conversion.
This is a very unfair, and possibly illegal, practice. The local businessmen are benefiting in a very big way from this process, because they meet their profit margin at the $100 = 1 real conversion, but get much more whenever the real fluctuates, plus when they resell the reais that they gain from Brazilian sales.
It is time that that the local consumers are given some form of protection from this unfair practice of pricing goods in reais. It is being urged that the Consumers Association and the Ministry of Trade investigate this practice and mandate that the local shops price their goods in Guyana dollars. If they also wish to price their items in reais, they should be allowed to do so, but they must also price the items in Guyana dollars. This way the fluctuating exchange rate would not have an effect on Guyanese consumers.
There are also other issues relating to the large businesses developing in Lethem that need regulating. For example, many business establishments are open on Sundays for business. Their workers are forced to work on this day, often without increased renumeration. Those that do not comply are sometimes victimized and dismissed. Also, many of the workers have no form of NIS benefit and job security. If a worker is forced to stay off work due to a personal issue, like the ailment of a child, that individual is frequently dismissed and not paid for the work done.
The business establishments in Lethem are one of the leading employers in the area. It is time that they become properly regulated so that their employees have a more secure and beneficial working environment and their customers, especially Guyanese, are not subject to unfair practices.
Yours faithfully,
(Name and address provided)
