MINISTRY MEETS WITH PRIVATE SECTOR TO DISCUSS REDUCTION IN C.E.T

St. George, April 07, 2008 -- Ag. Permanent Secretary of the Ministry of Economic Development and Planning, together with officials from the Ministries of Finance and Economic Development and Planning, met on Friday April 8th,  with representatives of the private sector, to discuss the implementation of the suspension and/or reduction of the Common External Tariff (CET) for a period of two (2) years (in the first instance), on a set of commodities, including yeast, baby formula, oil, raisin bran/cornflakes and other dried breakfast cereals, as approved by Cabinet.

This initiative by the Government of Grenada forms part of its effort to address the issue of the rising cost of living. This measure is expected to take effect on Thursday April 15, 2008.

The meeting was very successful as the parties agreed to work closely together in ensuring the benefits of the reduction reach the consumer.