To reduce the impact of unprecedented freight increases due to the COVID-19 pandemic, the Government capped freight at the 2019 level on all goods imported into Grenada, with effect from October 1, 2022, for a six-month period.
As a result of this relief measure, Government gave up $5.4 million in revenue.
Now that freight levels have normalised, and are roughly back to the 2019 levels, Government will not extend this relief measure, which expired last Friday, March 31, 2023.
The Government thanks the businesses who supported this policy and passed on the benefits from the lower freight costs to the final consumer.
The public is reminded that several other cost relief measures, including the removal of VAT (Value Added Tax) on nineteen (19) food and other essential items and the $10 Electricity Subsidy, remain in place consistent with the Government’s commitment to tackle imported inflation adversely affecting food and energy cost for citizens.
