Diamond manufacturers in turmoil
Friday, November 28, 2014
After five years of exemption, most of the 21 diamond cutting and polishing company will from this month be obliged to pay 0.2 percent of their turnover to government through the Human Resource Development Council (HRDC) as training levy.
While observers assert that the 0.2 percent is a small amount for a sector that does not pay a lot of taxes, industry insiders told BusinessWeek that their already troubled industry is a high turnover, high costs but low profit margin business and cannot therefore cushion the effects of any more taxes.
The Ministry of Agriculture, local producers, retailers, and industry associations must work together to overcome the obstacles hindering vegetable production and distribution.This collaborative approach is essential to improve the availability, quality, and affordability of vegetables in the market.Firstly, the Ministry of Agriculture should provide support and guidance to local farmers to enhance their productivity and efficiency. This could...