21 February, 2024, 11:10 am Central - 29°C Rain

The current priority of families is not to use their hard-earned money to purchase white goods and luxury items in abundance – NFP Leader

The current priority of families is not to use their hard-earned money to purchase white goods and luxury items in abundance – NFP Leader

By Vijay Narayan
Tuesday 21/07/2020
National Federation Party Leader Professor Biman Prasad

National Federation Party Leader, Professor Biman Prasad says the reduction and elimination of duty on 1,600 items will not have a positive impact on the livelihood of the ordinary workers and citizens and the many thousands of workers who have lost their jobs.

Prasad says basic food items like rice, flour, tea, garlic and onions as well medicine was already duty-free but people will still have the burden of paying 9% VAT on them.

He says while the list of 1,600 items also have food items, an overwhelming majority of them are luxury foods.

Prasad says at the same time the 32% duty on milk and butter have not been reduced.

He says this means people still are being forced to pay 41% in taxes in the form of 32% duty plus 9% VAT.

The NFP Leader says one wonders if this is to do with the long-term protection given to a local company.

He says edible oil still carries a 15% duty with concessions available to retailers, and lentils or dhal, another basic food item still carries a duty of 5%.

Prasad says the prudent measure to cushion the impact of high cost of living to the ordinary workers and citizens and the unemployed would have been to remove VAT on basic food items and prescription medicine.

He says in normal economic times, reduction in duty on such a large range of imported goods would have led to an increase in consumption.

Prasad says right now people are worried about putting food on the table for their families. He says this is their priority, not to use their hard-earned money to purchase white goods and luxury items in abundance.

The NFP Leader says the government’s expectation that this reduction would raise consumption demand and increase VAT revenue may be misplaced and unrealistic.

FEATURE NEWS
Qereqeretabua says it was disgusting and humiliating of Kumar to accuse her of engaging in explicit acts
Assistant Minister for Foreign Affairs, Lenora Qereqeretabua says she feels that one of the problems being given freedom of speech without responsibil...
2 hours ago
LATEST NEWS
Fijian British Army sergeant denies committing bigamy
A Fijian British Army sergeant accused of bigamy after he married a second woman in Kenya when he had not yet divorced his first wife insisted he ...
13 minutes ago

New Vunisea Market opens in Kadavu
It was a proud moment for the market vendors at the Vunisea Market in Kadavu as their prayers have been answered after the opening of their new ...
27 minutes ago

GCC meeting to be held at Lagoon Resort, Pacific Harbour next Wednesday and Thursday
The 2024 Great Council of Chiefs meeting will be held at the Lagoon Resort in Pacific Harbour next week. The Ministry of i-Taukei Affairs has ...
43 minutes ago

15 year old student charged after viral assault video
The 15 year old student seen in a viral video assaulting another student in Nadi has been charged by Police. Police confirm the accused has been ...
3 hours ago

Prof. Prasad to appear on fijivillage Straight Talk With Vijay Narayan at 7 tonight
Deputy Prime Minister and Minister for Finance, Professor Biman Prasad will appear on fijivillage Straight Talk With Vijay Narayan at 7pm ...
4 hours ago


fijivillage Straight Talk with Vijay Narayan
Latest Videos

Stay tuned for the latest news on our radio stations

CFL radio frequencies
yb
IN DEPTH
Kishore Kumar Trial
Kishore Kumar is charged with allegedly making false claims on his Facebook page, Kishore Kumar Publications that there was a porn video of ...
19 hours ago

Concerns raised regarding the state of CWM Hospital
General and Chief Pediatric Surgeon at the CWM Hospital, Dr Josese Turagava says due to the increase in the number of people who are moving to the ...
2 days ago

HSBC Perth 7s 2024
The Fiji Airways Men’s National 7s side secured a 4th place finish at the HSBC Perth 7s while the Fijiana 7s finished 8th in the Women’s ...
18 days ago

TOP