Labasa businesses want import duties unchanged
July 15, 2021 4:40 pm
The business community in Labasa is asking the government not to increase import duty in its national budget tomorrow.
Labasa Chamber of Commerce President, Satish Kumar says this was part of their submission to the Minister for Economy Aiyaz Sayed-Khaiyum yesterday.
Kumar says the economy is already suffering, there are job losses due to the current pandemic and there is no spending power.
“If the duty goes up, and if the prices are high, sales will definitely be down. So, in that way the business community is going to lose as well as the government in their VAT and tax revenue.”
Business owners are also expecting a relief package aimed at cushioning the impact of the COVID-19 pandemic.
Restaurant Owner Kamlesh Lata says businesses are already badly affected.
“I expect the government to keep prices of everything low so businesses can grow.”
Nilesh Deo of Sharma’s Electronics says consumers should also benefit from this budget.
“I would like the government to put the price of basic food items down because at the moment the price is really high.”
The 2021-2022 budget will be announced at 7.30pm tomorrow.