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Barbados cannot sustain $800 million fuel import bill, says minister

Thursday, November 14, 2013

Barbados Minister of Industry, International Business, Commerce and Small Business Development, Donville Inniss says the country cannot sustain an $800 million import bill for fossils fuels.

He made the comment in the face increased fuel consumption bill in Barbados.

However, he is of the view that the local alternative and renewable energy sector could offer some relief to Barbadians from this challenge.

As such, the industry minister revealed that government would soon bring to Parliament legislation which would highlight the importance of the sector.

"There are two matters up for debate in Parliament, perhaps as early as this month. The Income Tax Act Amendment which will speak to some incentives being granted to those who are involved in renewable energy sectors and perhaps more profoundly, the new Electric Light and Power Bill, which would change the landscape of energy provision and use in Barbados. This is focussed quite a bit on the renewable energy side of it," he said.

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