Thursday, 23 August, 2012 – Citizens hoping to become first time home owners and business people seeking to expand now have a once in a lifetime opportunity to do so through the Government of Saint Lucia’s Construction Stimulus Program.
The stimulus which is being implemented in conjunction with the private sector allows for the purchase of selected building materials including cement, lumber, plywood, PVC and iron pipes, paints, nails, fencing, steel and other basic building supplies at significantly reduced prices.
Reduction in the prices of those products are possible because government has decided to waiver all duties on the importation of these building supplies.
Speaking at the official launch of the eighteen month long Construction Stimulus Program,the Prime Minister and Minister for Finance,Economic Affairs,and Social Security Honourable Dr Kenny D Anthony explained that the Government of Saint Lucia is foregoing over EC$45 million in revenue to execute the construction stimulus which will bolster the economy and empower citizens to build.
“I know several citizens have been waiting to begin the construction and renovation of homes and commercial building. This construction stimulus program will offer a lifetime opportunity over the next eighteen months, these opportunities that were never obtainable in the past. There are several benefits offered under the program, there will be benefits to be gained in reductions in the prices of building materials, consumers will experience reductions in the cost of building material by up to 41% less than regular market prices in some instances”.
The Construction Stimulus Program is a strategic and deliberate response to the global financial crisis which has adversely impacted the local economy.
Prime Minister Anthony says crisis situations necessitate responses which are not just urgent but also innovative like the construction stimulus.
“This construction stimulus package is unique because we have fashioned a partnership between government and key private sector bodies for the single cause of stimulating economic activity, if we are going to cause the turn around in this economy then every single one of us has to make a sacrifice,we need each other and we need each other badly. While government has decided to forego over EC$45 million in revenue to execute this program I am heartened by the response and eagerness that has been demonstrated particularly by the banking sector,the Chamber of Commerce and the Bar Association”.
Prime Minister Anthony says the Construction Stimulus package is a wonderful statement of what can be achieved if government and the private sector collaborate for the greater national good.
He also expressed the hope that similar partnerships can be developed for future national initiatives.