The Tribune

By LEANDRA ROLLE

Tribune Staff Reporter

lrolle@tribunemedia.net

THE government is allocating over $6m to support its food security initiatives, according to Agriculture and Marine Resources Minister Clay Sweeting.

Mr Sweeting told the House of Assembly that over $27m has been budgeted for his ministry for the upcoming fiscal period and also detailed how the funds will be spent through his various departments.

Of the $27m allocated, he said much of it will go towards subventions to several government agencies, while adding that over $6m has been budgeted to strengthen the country’s food security.

“Madam Speaker, for the 2022/2023 budget with respect to recurrent expenditure, my Ministry has been proposed an allocation of $27,498,086.00 which includes subventions to BAIC (Bahamas Agricultural and Industrial Corporation) $5,000,000.00; BAMSI (Bahamas Agriculture and Marine Science Insititute), $6,476,088.00, an increase of $250,000. This demonstrates our commitment to education in agriculture and marine Resources,” Mr Sweeting said in his budget communication.

“We cannot say that we are committed to food security, and we do not translate that into educating the youth and re-educating people who want to get into agriculture. Additionally, BAHFSA (Bahamas Agricultural Food Safety Authority) will receive $504,000. For the Department of Agriculture, $5,522,159 has been proposed and for the Department of Marine Resources, $2,802,091 and the Department of Local Government, $26,200,058.00.”

“Madam Speaker, the proposed capital allocation is $4,766,446.00 which includes: food security capital development of $1,000,000.00, other capital initiatives include: the construction of two slaughterhouses, one in New Providence (replacement) and one in Eleuthera (and) construction of additional office space – Department of Marine Resources, purchase of a vessel - Andros, and the construction of an administration building at GRAC.”

With regard to the food security, the minister added: “$6,149,000.00 is proposed for my ministry to support our initiatives and projects related to the government’s food security agenda.”

He also revealed that some $500,000 will be given in direct support for farmers, adding that locals can also expect to receive indirect assistance from the Davis administration.

“There will be duty free exemptions for farmers and fishermen on equipment parts,” he added. “For example, to purchase a Caterpillar fuel pump kit costs $7,000 in the United States, to import it, a farmer/fisherman will have to pay 45 per cent duty and 10 per cent Vat. The farmer/fisherman would pay $3,850 in duties and Vat bringing the part value up to $10,850 to repair their equipment.”

“This Davis/Cooper administration realises that again, a holistic approach must be made in order to have a real tangible effect on food security and lowering the cost of production for farmers and fishermen. This duty-free initiative will now be a direct savings to the farmer and the part imported will now only cost $7,700.00.”

“This administration is committed to eliminating the cost of duty on all such parts for repairs, considering that Farmers and Fishermen already have duty free concessions for the upfront purchase of equipment and vehicles for their businesses this is an added bonus and real time savings to these hardworking men and women who will move the country forward.”

He also revealed planned concessions for poultry farmers, noting the industry as an important one, considering high food costs in the country.

“We believe that low hanging fruit such as poultry can provide an almost immediate catalyst to stimulate food production in the country,” the Central and South Eleuthera MP said.

“We have a plan, detailed in part in the budget, to attract the best technology and processes to develop a full-scale poultry production operation. This includes a series of concessions that will be available. These concessions include land concessions (BAIC and the Ministry of Agriculture have thousands of acres for agricultural development) as well as electricity rate concessions to producers and direct cash subsidies, as found in this budget, for the support of poultry farmers and producers.”

“Realistically, the timeframe to grow this sector of the economy will take another six to twelve months to see its full potential realized. In the interim, the Prime Minister in his wisdom, has also provided for the reduction of duties on many food items, including poultry and eggs. It is our sincere hope that these savings as outlined in the budget will be passed on to the consumers.”