September 2015 Issue Business View Caribbean

26 September 2015 - Business View Caribbean tion, the Government adopted a General Consump- tion Tax (GCT) in order to shift some of the taxation burdens from production inputs to consumption. Over the years, continued JMA lobbying has succeeded in securing the dismantling of most price control mecha- nisms for local manufacturers, and the restructuring of import tariffs, port duties, and administrative fees. Today, there is reduced, or no taxation, duties, or port charges on raw material imports and capital goods coming into Jamaica. But of course, there’s never a shortage of other con- cerns claiming the attention of Pengelley and the JMA’s 14-member secretariat staff. “One of the big issues we’re facing, at the moment, as a country, is the cost of electricity. Energy is a major component of manufacturing and currently our costs are somewhere around 42 cents per kilowatt hour. We’re still running very old generating equipment, all based on oil. So there is a new policy here which is working to diversify that and we’re expecting by 2017 or 2018 we will have taken at least 30 percent out of the current cost of electricity by switching to gas and to new generating equipment that is far more efficient.” Always empha- sizing the upside, Pengelley adds: “And if you use your power between midnight and 6 AM you can also lower your costs.” In addition to its lobbying arm, the JMA also provides many other direct services to its members. For exam- ple: for 42 years the Association has hosted a bien- nial “Expo Jamaica ” - a trade platform that showcases Jamaican manufactured products and brings buyers and sellers together. In addition, the JMA exposes its Brian Pengelley, JMA’s President Brian and Former Prime Minister, PJ Pa