(MENAFN- Jordan News Agency)
Amman, Sept. 24 (Petra) -Representative of the electrical and electronics sector at Jordan Chamber of Commerce (JCC), Hatem Zoubi, estimated decline in the electrical sector's business activities by 50% since the beginning of 2022, which is a 'harsh and unprecedented' drop, compared to a few years ago.
In a statement on Saturday, he said the electrical sector has suffered 'a very harsh unprecedented summer season due to the citizen's weak purchasing power.'
He added: 'Sharp decline in the volume of sales was accompanied by a significant increase in the large stock of goods and imports, accumulated in warehouses of importers and traders, which had financial consequences, whether in terms of profits, wages and storage operations.'
Zoubi attributed this decline in electrical and electronics sector to the citizens' 'weak' purchasing power and the high living cost, which led to reluctance to purchasing electrical appliances except sets to meet the most urgent needs.
Exacerbating the situation in the future, he noted merchants stocked huge goods in their warehouses due to the large import quantities, which would be accompanied by a drop in their value and lead to high financial consequences due to loans that will cause 'great' losses to suppliers and traders, amounting to about 25%.
Electrical and electronics sector is linked with other commercial activities, especially housing and construction, which requires providing all necessary support with regard to deferring loans until end of 2022, and granting financial facilities at reduced prices, he said.
Zoubi called on the concerned authorities to grant tax exemptions for the electrical sector, whether customs tarrifs, which range between 15% to 25%, or sales tax.
Meanwhile, he said trading in electrical appliances in the local market is witnessing 'high' competition due to multiple sources of imports and the large number of the sector's merchants, whose number exceeds 3,000, adding this business created thousands of job opportunities.
In addition, prices of electrical appliances in the local market are 'affordable,' and have dropped by reasonable rates ranging from 10% to 20%, he noted, adding some merchants sell for less than the purchasing cost to fulfill their obligations.
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