Rick Lowe, of the Nassau Institute, in a letter to Tribune Business questioned why the Government should pick Bahamian manufacturers to “win” over other sectors by restoring their never-ending import duty exemptions.
He also questioned how long an industry remained ‘infant’, noting that the former Ingraham administration’s decision to graduate Bahamian manufacturers from the Industries Encouragement Act after a period of five years – to paying 10 per cent duty on raw materials and equipment – was totally reversed by the new government.
“What makes light manufacturing any different than other industries that they are entitled to ‘incentives’ and other industries are not?” Mr Lowe asked.
“As has been shown with this about face by the incoming government, when policies like this are adopted they become political fodder for all involved, and in many instances additional ‘incentives’ are found ‘necessary’ that only create more dependency on bailouts and handouts.”
