Freeport firms suffer 30-60 sales declines

Thu, Jan 27th 2011, 10:00 PM

By NEIL HARTNELL

Tribune Business Editor

With major Freeport businesses and wholesalers having suffered year-over-year top-line sales reductions of between 30-60 per cent for January, a leading attorney told Tribune Business that central government pressure meant that "the rule of law and governance under the Hawksbill Creek Agreement has nearly complete collapsed".

Fred Smith QC, the Callenders & Co attorney and partner, warned that various government initiatives, such as Customs' demand for a National Insurance Board (NIB) Letter of Good Standing before bonded letters were renewed, were in danger of "throwing the baby out with the bath water" and "could easily k ...

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