Lowering fuel taxes key to survival, growth of manufacturing – Sterling Products Head

Sterling Products CEO Ramsay Ali

Chief Executive Officer of Sterling Products Ltd Ramsay Ali on Wednesday evening told the Stabroek Business that local manufacturing is likely to continue to perform below its potential unless government moves decisively to address the taxation of fuel and by extension, the enhancement of the competitiveness of the sector.

Speaking on the sidelines at the company’s Annual General Meeting at the Marriott Hotel, Ali said that apart from the need to reduce taxes on fuel, government needed to take other measures to better position the manufacturing sector to perform at its optimum.  “It would do the sector some measure of good if the present administration were to take the position of its predecessor in reducing taxes on fuel whenever there is an increase in price,” Ali stated.

 The Guyana Manufacturing and Services Association (GMSA) executive member told the Stabroek Business that bilateral discourses between government and manufacturers on the issue of cutting taxes on fuel had gone nowhere “despite the fact that we have submitted a great deal of information to the administration on this issue …They have everything that they require on issues like usage and consumption to position them to make an informed decision,” Ali disclosed…..

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