Monday, October 21, 2019

Puerto Rico retailers request new extension to pay state insurance policy

By on November 22, 2017

 

SAN JUAN – The president of Puerto Rico’s United Retailers Association (CUD by its Spanish initials), Nelson Ramírez, on Wednesday requested an additional extension for paying the State Insurance Fund Corp.’s (CFSE by its Spanish initials) at least until Dec. 31, saying that thousands of businesses are still closed due to the lack of electricity service after Hurricane María.

“At the moment there are more than 5,000 business people who haven’t been able to open due to lack of electricity. Jesús Rodríguez, the administrator of the CFSE, had already granted until November 27, 2017, to make the payment,” Ramírez said in a written statement.

Without Power Restored, P.R. Retail Sector Could Lose $8.9B in 6 Months

“We hope that during the month of December we have a greater number of businesses open because it is truly unfair that employers who are closed have to pay the fund’s policy when they are not generating income.

“We are appealing to the…the relevant authorities to consider our request for an extension of the payment until December 31, as dozens of members have desperately expressed concern to us about the possibility of being subject to fines and surcharges,” he added.

The executive explained that “this push is necessary to help merchants continue to operate and generate jobs, since for them the CFSE policy is an essential requirement so their employees are properly protected while complying with the law.”

 

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