Tuesday, November 12, 2019

Tax Policy Must Aid Development

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The current skyrocketing price for cement is a major obstacle to the construction industry, which is a key contributor to the rise in GDP. The objective of any fiscal or economic policy is to reduce hardship and eradicate poverty. Any policy that increases hardship or poverty cannot be justified.

Hence the government needs to review the impact of its tax on cement. The rainy season is not far and many have started construction calculating what they would spend on cement. Any extreme rise in prices would delay the implementation of their projects. The general impression is that government has done this to protect local producers to ensure that there would not be any major price hike.

Foroyaa will interview the local producers and all the relevant stakeholders in order to shed more light on the subject.

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