Government Moves To Implement A Series Of Measures To Mitigate The Impact Of Inflation

Government Moves To Implement A Series Of Measures To Mitigate The Impact Of Inflation

Government has put in place a series of measures to mitigate the impact of inflation on consumers in light of increased international shipping and freight costs to the public.

Minister of Trade and Industry, Paula Gopee Scoon, told the Parliament on Friday, some of the measures include suspension of the common external tariff on a selected list of over twenty basic food items.

Another measure, Minister Gopee Scoon said, is the import substitution of a selected list of items which seeks to encourage local production and increase export opportunities for the local manufacturing sector.

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Added to this is an increase in the allocation of foreign exchange to the Exim Bank to the extent of six hundred and fifty million US Dollars.

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