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Cabinet backs new agri fund to boost local production
Published: Friday | July 24, 2009
Damion Mitchell, Assistant News Editor
tufton
Agriculture Minister Dr Christopher Tufton has announced that Cabinet has approved the establishment of an agriculture development fund as the Government makes yet another attempt to boost local production and discourage importation.
The money for the fund will be raised through the imposition of additional duties on some imported produce and, accor-ding to Tufton, will be used exclusively for capacity building in the agricultural sector.
"Essentially, what it means is that a range of imported agricultural produce that comes in will attract an additional duty under WTO (World Trade Organisation) arrangements and this is going to be ring-fenced in the Consolidated Fund," the minister told a Gleaner Editors' Forum at the newspaper's downtown Kingston head offices on Wednesday.
Tufton said the fund would be up and running in another few months and should be able to generate between $400 and $500 million each year. He insisted that adequate measures would be put in place to ensure that the money from the fund is used only for its intended purposes, including the construction of food-packaging houses and the improvement of irrigation systems.
For ja's benefit
Tufton said he was aware that some local entities, like the importers of choice beef cuts, might resist the additional duty. However, he maintained that the measure would be within the framework of the WTO. He also said the initiative would benefit Jamaica.
In the meantime, Tufton said the agriculture ministry was working with the Customs Department to crack down on supermarket owners who are selling illegally imported agricultural items.
illegal imports removed
"We have actually visited a number of outlets, including tourism and retail where we have removed items off the shelves that were imported without permits," the minister said. Only recently, concerns were raised that the local freshwater-fish industry could be closed down because of competition from overseas tilapia importers. However, Tufton said he has not approved the importation of tilapia for the past three months.
He said many business operators were unaware that some of the imported produce they were buying from suppliers were illegal.
The minister said that though many others are well aware, they engage in the illegal trade because of its profitability.
At the same time, he is reporting that there has been a 30 per cent reduction in food imports as the demand for foreign produce continues to drop.
Cabinet backs new agri fund to boost local production
Published: Friday | July 24, 2009
Damion Mitchell, Assistant News Editor
tufton
Agriculture Minister Dr Christopher Tufton has announced that Cabinet has approved the establishment of an agriculture development fund as the Government makes yet another attempt to boost local production and discourage importation.
The money for the fund will be raised through the imposition of additional duties on some imported produce and, accor-ding to Tufton, will be used exclusively for capacity building in the agricultural sector.
"Essentially, what it means is that a range of imported agricultural produce that comes in will attract an additional duty under WTO (World Trade Organisation) arrangements and this is going to be ring-fenced in the Consolidated Fund," the minister told a Gleaner Editors' Forum at the newspaper's downtown Kingston head offices on Wednesday.
Tufton said the fund would be up and running in another few months and should be able to generate between $400 and $500 million each year. He insisted that adequate measures would be put in place to ensure that the money from the fund is used only for its intended purposes, including the construction of food-packaging houses and the improvement of irrigation systems.
For ja's benefit
Tufton said he was aware that some local entities, like the importers of choice beef cuts, might resist the additional duty. However, he maintained that the measure would be within the framework of the WTO. He also said the initiative would benefit Jamaica.
In the meantime, Tufton said the agriculture ministry was working with the Customs Department to crack down on supermarket owners who are selling illegally imported agricultural items.
illegal imports removed
"We have actually visited a number of outlets, including tourism and retail where we have removed items off the shelves that were imported without permits," the minister said. Only recently, concerns were raised that the local freshwater-fish industry could be closed down because of competition from overseas tilapia importers. However, Tufton said he has not approved the importation of tilapia for the past three months.
He said many business operators were unaware that some of the imported produce they were buying from suppliers were illegal.
The minister said that though many others are well aware, they engage in the illegal trade because of its profitability.
At the same time, he is reporting that there has been a 30 per cent reduction in food imports as the demand for foreign produce continues to drop.