FM Chaudhry rejects anti-budget claims from retailers
05 Mar '07
1 min read
Interim Finance Minister Mahendra Chaudhry has backed the revised budget saying that it was positive for business as well as major entrepreneurs in the country.
However, Fiji Retailers Association has opposed the budget saying that medium and small retailers will be compelled to shut-down their trade.
Major appliance, perfume, electronics and jewellery dealers will be hit hard by the budget.
Stamp duty on watches, gold, perfumes and others increased from three to 15 percent, which will force businessmen to layoff many more people.
The high production cost will result in hike in sale-price, ultimately affecting the domestic consumers.
marketing@alchempro.com
