Small loggers elated with $900m revolving fund announced by President
We the small loggers of Kwakwani, Ituni and the Upper Berbice River are elated at the recent announcement by His Excellency, Dr. Mohamed Irfaan Ali for the operationalization of a $900 million revolving fund solely for investment within the forestry sector.
All forest sector stakeholders welcome this announcement and it is anticipated that this much needed injection of finance will act as a catalyst to aid the recovery of the forest sector through investments to facilitate value-added production, increased allowable extraction and recovery rates. This will be done to meet increasing local and regional market demands. Further, funding for the sector will support small loggers and sawmillers to invest in improved machinery and equipment to increase recovery and the quality of finished forest products.
Editor, it is important for us to remind our readers that the forest sector began a downward spiral in 2016 which had a significant impact on rural small loggers and their families. Many smaller loggers within Region 10 were forced out of the sector with loss of employment and markets, which led to a spiral of negative impacts in vulnerable communities.
However, the results of the recovery of the sector began to bear fruit in 2021 when the impacts of improved systems and management of the forest sector under the current government were implemented. These included the allocation of concessions mostly to small loggers, removal of taxes on hinterland travel, removal of VAT on machinery and equipment, reduction on taxes on pick-ups, removal of taxes on fuel etc.
Furthermore, this revolving fund will now add to the many incentives and support extended to the sector which is much needed to satisfy the demands for all types of forest produce, particularly in the construction, housing and infrastructure drive of the current government to propel growth and development.
Once again, on behalf of all the loggers, not just those in Region 10, but also all that are part of the logging sector countrywide, we would like to echo our appreciation to the President and Government of Guyana for conceiving and operationalizing the $900m fund exclusively for the forest sector. Thank you, Mr. President. God Bless.
Sincerely, C. DeBarros