Sugar Ministry welcomes budget allocation
29 July, 2021, 9:08 pm
Fiji’s Ministry of Sugar Industry has commended Government for providing a positive and innovative 2021-2022 National Budget in challenging times.
Assistant Minister for Sugar George Vegnathan said the $72.2 million allocated to the ministry, which was an increase of $7.3 million from the previous budget, would enable the sugar sector to maintain sustainability and continue to improve.
“The continued support for the sugar industry with the guaranteed price of $85 per ton for the fourth year in a row is highly appreciated during these difficult times,” he said.
“I wish to also highlight that the reduction in fiscal duty on automotive batteries for 32 per cent to 15 per cent will also greatly assist our farmers reduce their expenses as having better returns.”
Mr Vegnathan said government’s assistance in payment of goodwill taxes for the next 12 months would provide much-needed support for all farmers.
“The Ministry of Sugar Industry is working closely with all sugar industry stakeholders to lay a solid foundation to create a sustainable economic indicator to our GDP.”