RCI St. Lucia
posted on January 13, 2016 06:16
As local manufacturers call for further reductions in production costs, St Lucia’s Minister for commerce says they are not likely to see any immediate declines.
The disclosure came on Tuesday following a call by the President of the St Lucia Manufacturers Association Ronald Ramjittan for reductions in electricity and freight costs in order to boost the sector.
But speaking on the issue ahead of Tuesday’s sitting of Parliament, Commerce Minister Emma Hippolyte says the benefits from reductions in gas prices will likely take some time to materialize.
Ms Hippolyte believes that reductions in gas prices should result in lower operation costs. She adds that it will also positively impact tourism and manufacturing sectors, causing them to be more competitive.