Couva/Point Lisas Chamber?president Lily Heerai has said the 44 per cent increase in the price of premium gasoline announced in the 2013 budget by Finance Minister Larry Howai on Monday should have been gradual. She made the point yesterday when she addressed the chamber's post-budget forum at its Conference Hall, Camden Road, Couva, which was attended by Minister of Trade, Industry andInvestment and Minister in the Ministry of Finance Vasant Bharath.
Heerai acknowledged that the fuel subsidy continues to be a "significant drain on the Treasury," and said she agreed in principle with the start of the reduction in government's fuel subsidy. However, she added, the chamber's view is, "The sharp increase in premium fuel should have been more gradual." While Heerai supported the temporary removal of 15 per cent Value Added?Tax (VAT) on all food items, which she said would have a positive effect on inflation, she said many questions had been raised.
Among them, she said, was: What is the system for monitoring and reporting on the overall impact on consumers and price control? What will this measure cost the Government? And how the loss in revenue is going to be compensated? She expressed concern over the Government's allocation of $1.338 billion for agriculture. "If Government is serious about diversifying the economy and establishing food security, then even greater investment is needed in this sector," Heerai said.
She called for the establishment of a farmers' wholesale market in Couva. Heerai also asked that the Couva/Point Lisas area be considered for one of the 32 community police units and a fixed joint service unit. Couva South?MP and Minister in the Ministry of Finance Rudranath?Indarsingh, who formed part of the panel at the forum, assured Heerai her concerns were being addressed. He said within the next six months, 2,000 acres of Caroni lands will be brought into cultivation for agricultural purposes.
Indarsingh described the 2012-2013 budget as "progressive and visionary," saying it was prepared after "deep and intense" consultations and review of 700-plus recommendations. He said Couva/Point Lisas would benefit from significant development, including the expansion of the Rivulet Road at a cost of $350 million and the widening of the Captain Watson Bridge. He said construction of the new Balmain?Calcutta Bridge would begin in?November, and while it was being built, Camden Base Road would be developed for use by motorists.