JGRA cries foul at fuel price increase
Gregory Chung, first vice-president of the Jamaica Gasolene Retailers Association (JGRA), has expressed shock and disappointment at the announcement that the special consumption tax (SCT) on fuel will see increases ranging from $0.43 to $7.36, effective Wednesday, March 15.
This new measure will see the current $31.00 in taxes being paid by motorists on every litre of 87 octane being increased to more than $38.00.
The tax measure geared towards raising $7.5 billion in revenue for the Government, was announced by Finance Minister Audley Shaw in the House of Representatives yesterday during the opening of the 2017-18 Budget Debate.
Chung told The Gleaner that, "This news is very shocking to the entire trade. We're very surprised that the Government would have gone to tax the fuel that is supposed to drive production. It seems as if we are not keen on production and it is obvious that this measure was not well thought out. We are disappointed and we will be objecting to this level of increase not only for petroleum retailers, but also for the motorists who don't have a platform of their own and are depending on us as their business partners and supplier of the service to ensure that they get the best value for money."
"The consultations will begin immediately. We are getting our executives together as we speak as our motorists have already indicated to us that they are very displeased," he added.