Nevis Economy Will Be Driven By Sustainable Economic Measures, says Parry
By Pauline Waruguru
Nevis Reporter- SKNvibes.com
Charlestown, Nevis: The Premier of Nevis Joseph Parry yesterday spelt out sustainable measures that will drive the Nevis economy and ensure that Nevisians will be empowered to be economically independent.
He said it was not the intention of his government to impose burdensome taxes on Nevisians but said there will be cost sharing in certain crucial sectors and cited the payment of the fuel surcharge where the Nevis Island Administration (NIA) was incurring annual payment of a total of EC$4million. Hon Parry was delivering his budget address 2008 whose theme is “Moving To A Higher Level Of Progress.”
He said from January 2008 domestic consumers would bear a 50 per cent of the cost of the fuel surcharge.(The fuel cost adjustment is a mechanism designed to recover the cost of fossil fuel oils used in the generation of electricity.) Premier Parry also holds the Minister of Finance Portfolio.
However, Hon Parry was quick to say that Nevisians will not bear the burden forever. “My government is vigorously seeking to implement its renewable energy programme to buffer the high price of oil and to make electricity cheaper for consumers.”
“I am pleased to report that the administration has granted an 18 months exploration license to West Indies Power Nevis Limited to explore geothermal energy on Nevis.” ~~Adz:Right~~
“NRP led administration is currently seeking technical assistance and advice from institutions such as the CARICOM and the OAS as it explores geothermal energy development. In addition, strategic alliances have been established with other institutions such as German Technical Cooperation (GTZ) with regards to the possibility of exploring and developing wind energy.”
Hon. Parry highlighted ways through which the government is trying to unburden Nevisians. In conjunction with the Federal Government, NIA had awarded an interim in salary of 5 % to government employees with effect from January 1, 2007. The new rate for employees will be paid in the month of December 2007.
The Premier also said that within only 18 months, NIA had supported the school feeding programme in four out of seven primary schools, NIA has provided free text books for students in both primary and secondary school. Hon. Parry stated his government had launched the homework assistance programme whose model is attracting other islands in the region.
“We have provided additional duty concessions on capital items including vehicles for small businesses, we have increased the rate of construction of low income houses and improved the quality,” the Premier of Nevis said.
Hon. Parry revealed that NIA had spent a total of EC4million to undertake the programmes and their impact was being felt throughout the country especially among the low-income families.
“We continue to receive high commendation from parents, teachers, guidance, counsellors, as well as religious and international organisations for our vision in implementing programmes that will have a lasting impact on the lives of all Nevisians,” he said.
“This government does not believe in handouts. We are targeting low-income groups so that they can become more productive members of the society and thus increase their incomes. We believe that the main reason for poverty and an increase in income inequality is a lack of opportunities,” Hon. Parry said.
“We have given considerable attention to the human dimension of economic development. We are now poised to take Nevis to a higher level of economic progress leveraging our people as an important resource…Nevisians will be able to take up more middle and top management positions in the service industry,” the Premier said.
NIA, Parry stated was studying the global scene. The Premier cited the weakening of the dollar to which the EC dollar is pegged. He said at the moment the European market was showing greater potential. He also said that although the global grown was sound with projections of 5.2% in 2007 and 4.8 % in 2008, the growth was being driven by emerging markets such as China, India and Russia.
Hon. Parry noted that most of the tourist arrivals originated from the United States of America. The Premier said his government would monitor the situation to minimise the potential future negative impact on the island’s economy.
“We need to begin the process to diversity the domestic economy as well as our overseas markets for the export of services to make out island more resilient to external shocks. To this end, my government has been giving greater attention to Agriculture, Education, and Information and Communication Technology (ICT),” Hon Parry said.
“From this budget address, it is made abundantly clear that my government supports the market system, corporatization, and creating environment for local and foreign investment to thrive….our people empowerment agenda is aimed at preparing our people to be competitive in the global market,” Parry told the House of Assembly.
