BUSINESS NEWS
November 21, 2012 12:00:00 AM
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Fiji’s top exporter of 2012, the Biscuit Company of Fiji is urging the government to retain incentives which assist export efforts in its 2013 National Budget.

And the zero rated duty on plant and machinery is what the company believes should be retained for at least five years so exporters can order machinery and refurbish their operations in the country.

Speaking to FijiLive, group chief executive of Flour Mills of Fiji, Ram Bajekal said the government of the day has put in place initiatives which are benefiting the exporters and he wants to see most of them retained in the new budget.

“The paramount incentive of government which is benefiting the exporters the most is the zero rated duty on plant and machinery and we want this to stay for some time,” he said.

“There needs to be a continuity of this incentive so the companies can actually inspect thee machinery, place orders and make purchases. The whole process certainly takes more than a year; therefore this tax free scheme should remain for a longer period.”

Bajekal also commends government for its “Buying Fijian Made” campaign and said the exporters were benefiting both on the local and international front from this campaign.

“Our exports are being boosted and the Fijian brand is receiving more recognition around the globe while at the same time the initiative is encouraging locals to buy more locally made products than the imported ones. So it’s a win-win situation for both the exporters and the consumers as the money remains and circulates into the economy.”

Apart from winning the Prime Minister’s Exporter of the Year Award,  Biscuit Company of Fiji also walked away with the Manufacturing Exporter of the Year Award in Sigatoka over the weekend.

Prime Minister and Minister for Finance, Commodore Voreqe Bainimarama will officially announce the 2013 National Budget at 3pm tomorrow.

By Reginald Chandar

Wiggle


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