Timber industry declined in first half of 2017, Barama GM says

The timber industry has declined by 18% in the first half of 2017, according to Mohindra Chand, General Manager of Barama Company Limited (BCL), who also says a rebound is expected by next year.

“The timber industry as a whole experienced a decline of 33% last year and in the first half of 2017, experienced another 18% decline and you have to remember we had some fallouts, Barama being the major one,” Chand told Stabroek News.

With respect to factors that are affecting the industry, Chand emphasised that the implementation of the 14% Value-Added-Tax on value-added products is still having a negative effect.

“That is the main concern and the most