ECONOMY

Retailers call for further relief on rents

retailers-call-for-further-relief-on-rents

Retailers unable to pay their rents are calling for an extension of the mandatory 40% reduction in rents, slated to expire at the end of August, to the end of the year.

Even with the reduction in force, businesses such as restaurants, especially those not situated in popular commercial areas, have been having difficulty keeping up with their payments.

Retailers also want the reduction extended to businesses beyond restaurants and others, such as sports and cultural activities, covered by the current measures.

As an alternative to a mandatory extension, retailers want the government to provide incentives to their landlords to continue keeping rents low voluntarily, such as through a tax rebate scheme.