–Pres. Ali

-by NaAsia Bristol

Farmers in Guyana are saving approximately $1.4 billion annually – following the reversal of increases in drainage and irrigation and land rental fees.

President Irfaan Ali says the measures are part of government’s efforts to reduce the cost of production and help farmers remain productive.

Reducing the financial burden on farmers is critical as producers continue to face higher costs for fuel, fertilizer and other agricultural inputs.

President Ali says increases in drainage and irrigation fees, along with land rental fees, were reversed to ease the cash burden on farmers.

“We reversed the 220% increase in drainage and irrigation fees, and a 600% increase in land rental fees. We reversed that so that we can help farmers to be more productive. We can remove this cash burden on farmers. This has led to savings of approximately 1.4 billion dollars every year for our farmers,” the president said.

The President also pointed to other measures aimed at lowering the cost of agricultural production.

“[We have] removed VAT on machinery, equipment, fertilizers, agrochemicals, pesticides and key industry input. Remove of excise tax on fuel, saving farmers and consumers billions of dollars over the years. Hundreds of billions of dollars,” he said.

The measures, the President says, are aimed at reducing production costs for farmers while supporting greater productivity across Guyana’s agriculture sector.