First Look

Economy will be significantly affected by Riverton fire



CaPRI | 2015-03-17 00:00:00

The Caribbean Policy Research Institute has said that the preliminary costs of the Riverton fire to the economy is far more than the cost to extinguish the fire.  The organization has concluded that the fire will cost the economy over two hundred and seventy two million ($272,000,000). CaPRI`s preliminary calculation came after tabulating the cost of the impact on major affected areas of the economy: the Cost of extinguishing the Fire, Production Loss, Health and Education. Co- Executive Director of CaPRI, Dr. Damien King stated “The real cost of the fire cannot be assessed by simply calculating all the cost involved in extinguishing the fire, but one has to take into account all the associated cost to the economy.”

Ms. Altricia Dawson, CaPRI’s Researcher provided the preliminary cost on the affected areas “Cost of extinguishing the fire one hundred and two million (102,000,000), Preliminary Production Loss one hundred and thirty six million ($136,000,000) with a significant cost attributed to loss at the ports. Health comes in at Twenty Five Million dollars (25,000,000) and Education at nine 9 million ($9,000,000).”

CaPRI further stated that these sorts of costs can be avoided if policy is enacted to improve the operation of our waste management facilities. This would ensure greater savings to the country and aid in preventing a future occurrence of a similar magnitude. CaPRI`s extensive report on Waste Management facilities will be released to the public later this week.


 




Posted By :Laura Levy

Company Name : CaPRI

Website :

Company Address :


More press release from CaPRI