Reduction of cement tariff in Barbados

Reduction of cement tariff in Barbados

The Barbados government has said that it stands by its decision to lower the 60 per cent tariff rate on cement to protect Arawak Cement Limited (ACL), a subsidiary of Trinidad Cement Limited (TCL). Commerce Minister Donville Inniss explained the rationale behind the government´s decision, as both companies have expressed concerns over the decision to lower the tariff. Inniss said that the intent was not to cause any harm, but to help drive efficiencies in the system and to ensure consumers got a better price on the much-needed raw material.

"We have our differences on the methodologies employed and the policies being pursued, but at the end of the day, we want to ensure that ACL remains a viable entity in Barbados," said Inniss. Inniss said that he was supportive of the company´s restructuring plans, as well as its efforts to bring its prices down, praising the company´s commitment to increasing exports of Portland grey cement.

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