Riya Mala 
The Suva business community has acknowledged that businesses will continue to operate under a largely unchanged policy environment from August.
Suva Retailers Association President Jitesh Patel says the government’s new fiscal strategy largely maintains existing policies affecting the business sector.
Patel says the budget reflects a continuation of measures introduced in previous years, particularly in relation to tariffs and other business-related policies.
He adds that the reduction in employer FNPF contributions and changes to the one percent MPTC levy will provide some relief to businesses over the next 12 months.
“And the employer contribution as well, the 1% MPTC levy, we have seen there’s some changes in that and we are happy with that. I think businesses have been asking for some changes, so that is one positive outcome from the budget. Other than that, a lot of capital expenditure has been allocated.”
Patel adds that the business community was hoping to see additional incentives for small and medium-sized enterprises.
“And it would have been good to see a few more tariffs reduced on certain products, especially plastic items and other everyday-use products, because we are currently paying more than 40 percent in tariffs on those items, but that has not changed.”
Although businesses are still reviewing the details of the new tariff adjustments and investment incentives, they say the overall budget offers stability and maintains policy continuity, which is important for long-term business planning.
