SICCI acknowledges Gov’t on fuel exemption measures taken

SICCI Chair, Ricky Fuo’o, says the quick response by the government to provide a fifty percent duty exemption on fuel imports to offer some stability is a positive step timely taken as fuel is key to determining cost of electricity in Solomon Islands, and a majority of businesses rely on electricity for their operations.

“The tax relief incentive will indeed lessen impacts on businesses and the households at large both in and outside of Honiara. The recent surge in fuel price recently has seen SICCI receiving grave concerns from the business houses who are prone to bear the brunt of the higher price pressure impacting budgets and affecting purchasing power regardless of their income group. Now that the government has taken the bold step by putting in place such temporary measures, businesses are welcoming it as a turnaround thus, commending the government for such incentives”, added Ricky.

Earlier SICCI has submitted a position paper and recommendations to the government aligning to the reduction of the duty on fuel imports. Going forward, SICCI maintains its position as the ultimate advocator for private sector businesses, strives to work closely with the government to advocate on issues pertaining conducive environment for private sector businesses both in and outside of Honiara.

-SICCI Press