Shaw’s decision bad for business – PSOJ
AMBASSADOR DERICK Heaven has welcomed the announcement by Agriculture Minister Audley Shaw that he intends to reimpose the tax on processed (granulated) sugar, which is used as a vital ingredient in a wide and diverse range of manufacturing processes. He, however, cited the need for a safety net for those legitimate businesses that will be adversely impacted, and at least one businessman agrees.
“The minister’s announcement is long overdue about the reintroduction of the way in which imported refined sugar is handled,” the former diplomat, requesting anonymity, told The Gleaner after yesterday’s stakeholders luncheon at the Spanish Court Hotel in New Kingston, hosted by the Sugar Industry Authority and All-Island Jamaica Cane Farmers’ Association.
“The manufacturers are going to need some assurances and it has to do with the way it is managed. With proper management, it need not impact negatively on manufacturers apart from having to upfront the money. But with the assurance from the minister of quick return to the extent that it is going to cause the massive leakage that is taking place, it is going to be a plus.”
However, businessman Steven Sykes, who represented the Private Sector Organization (PSOJ) at the meeting and is a member of the Jamaica Manufacturers’ and Exporters’ Association, took issue with the minister’s handling of the situation.