Grey market, bribes and power costs hurting firms

THE informal business sector, corruption, and electricity outages are the major impediments to the growth of private owned firms that operate in the manufacturing and retail sectors, according to a new study by a World Bank financing arm. The study titled enterprise survey was conducted from January 2013 through February 2014 by the International Finance Corporation to establish the challenges that businesses experience in the formal market. It says 59.4 per cent of firms dealing in food, textiles and garments, chemicals, plastics and rubber, as well as retailing are the hardest hit by the...