Beautiful Virgin Islands

Tuesday, Jun 24, 2025

Gov’t slashes import duty on cement and propane by 50%

Gov’t slashes import duty on cement and propane by 50%

Premier Andrew Fahie has announced that in addition to the reduction in Customs duty tax and import duty on gasoline and diesel, Cabinet has approved a 50 per cent reduction in import duties on propane and cement.
Speaking at a special announcement press conference today, Fahie said the only stage left is for approval of the policy by members of the House of Assembly.

“I know persons in the House of Assembly would have no problems supporting these measures that would give you the people of the Virgin Islands some relief in these trying times. Cabinet has also approved as part of a policy, the reduction in import duty on propane and cement by 50 per cent of their current rate. From 18 cents to nine cents per 100 pounds of cement and $1.20 to 60 cents per 100 pounds of propane. So, these are some further measures your government has put in place to help you the people of the Virgin Islands in these times and to keep the economy stimulated,” Fahie said.

The Premier once again encouraged people to take advantage of the zero import duties on most equipment needed for using green energy as well as equipment needed to begin the cultivation of solar energy.

He said this initiative is another one passed by the government earlier this year to help with economic stimulation and environmental protection.

“By going green and generating your own electrical power, persons can save on their electricity bill and even earn money by selling their surplus power back to the grid,” said Fahie, who is also Finance Minister.

He further said the Ministry of Finance will continue to monitor the economy as the government implements the stimulus to ensure the benefits have been passed on to the consumers.

“Your government will be monitoring businesses through the Trade Department with its consumer protection function and in collaboration with various government agencies. This would include comparing the prices when stock is imported by businesses against the prices on the shelf,” the Finance Minister said.

“The same would be done for gasoline and diesel fuels. The government is urging businesses to pass on the benefits from the import duty stimulus to consumers. When you support your consumers, they will be able to continue supporting your business. It is a circle of life and a circle of the economy. Do good and good will follow you. We are in this together and we will rise more than ever before,” the Premier added.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Airlines Evaluate Flight Cancellations Amid Escalating US-Iran Tensions
Starmer Invites Innovators to Join Government Talent Scheme
UK Economy’s Strong Opening Quarter Shows Signs of Cooling
Harrods Seeks Court Order to Secure Al Fayed Estate for Victims
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
BBC Demands Perplexity AI Immediately Stop Using Its Content
Telegram Founder: I Will Leave My Fortune to Over 100 of My Children
Political Turmoil Resurfaces in Belgium Amid Economic Concerns
Fed policymakers divided on timing of interest rate cuts
Trump signals imminent agreement with Harvard University
Inheritance tax referendum alarms Swiss billionaire community
Japan cancels bilateral security meeting amid US defence demands
AI skeptic Emily Bender warns that ‘the emperor has no clothes’
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
Plans to Sell Dutch Embassy in Bangkok Face Local Opposition
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump's $5 Million 'Trump Card' Visa Program Draws Nearly 70,000 Applicants
DGCA Finds No Major Safety Concerns in Air India's Boeing 787 Fleet
Airlines Reroute Flights Amid Expanding Middle East Conflict Zones
Elon Musk's xAI Seeks $9.3 Billion in Funding Amid AI Expansion
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Taiwan Imposes Export Ban on Chips to Huawei and SMIC
Israel has just announced plans to strike Tehran again, and in response, Trump has urged people to evacuate
Netanyahu Signals Potential Regime Change in Iran
Juncker Criticizes EU Inaction on Trump Tariffs
EU Proposes Ban on New Russian Gas Contracts
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
×