Mount Gay happy with Govt decision
Management of Mount Gay Distilleries Limited has welcomed Government’s decision to meet with players in the local rum industry to come up with an assistance plan.
In his 2013 Financial Statements and Budgetary Proposals, Minister of Finance Christopher Sinckler said Government would in the coming weeks be meeting with representatives from the local rum industry to “examine a mechanism” that would initiate a level of subsidization for local rum producers so they could remain relevant and competitive in overseas markets. He also noted that Government would be spending US$270 million to restructure the sugar industry – the source of inputs for the rum industry.
Sinckler also noted that CARICOM was preparing for a possibility of lodging a case in the World Trade Organization (WTO) against the United States’ rum subsidies that have been termed illegal.
Raphael Grisoni, managing director of Mount Gay Distilleries Limited, told reporters yesterday he was “very happy” Government would be tackling the issues and he expected the local spirit brands to do better once those problems were ironed out. (MM)