Nevis Economy

Nevis Minister Praised For Fisheries Complex

Nevis Cooperative Director- Samuel Powell

Nevis Cooperative Director- Samuel Powell

Charlestown, Nevis
July 30, 2008

Minister of Agriculture in the Nevis Island Administration (NIA) Hon. Robelto Hector, received high commendations from other officials for his instrumentality in the refurbishment of the Nevis Fishermen Marketing and Supply Cooperative Society Limited.

This came at the Cooperative’s opening ceremony on Tuesday July 29, 2008, under a tent setup for the occasion at Market Street in Charlestown.

Minister Hector, who spoke at the ceremony, recorded the NIA’s commitment to the fishing industry on Nevis.

“As a government, we are focused on increasing income of our fishermen.  We are determined to increase employment in the sector, so too we seek to achieve greater consistency of our fish supply and better quality.  We also seek to strengthen our export potential,” Minister Hector said.

The Minister also appealed to the fishermen and the general public, by extension, to offer support to the Cooperative and its efforts.

“As a sector directly related to the tourism product, we are committed to ensure that the correct synergy exists.  I call on you as food providers to rise to the challenge of ensuring that Nevisians are fed.  I call on you to continue to assist in ensuring our food security.  I must say to you fellow fishers, your trade represents one of the oldest professions.  It is a profession we are proud of and we want you to continue to feel that pride,” he said.

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Nevis Island Government Announces LPG Price Rise

100 Lb Propane Gas Cylinders

100 Lb Gas Cylinder Fillup To Cost EC $160.00

Charlestown, Nevis
May 30, 2008

Despite the Nevis Island Administration’s (NIA) continued subsidization of domestic gas (cooking gas), it was forced to sanction an increase in the commodity with effect from June 01, 2008. Word came from Minister of Trade on Nevis Hon. Hensley Daniel, in a televised address on NTV Channel 8 on May 30, 2008, to announce the increase.

“After careful consideration and mindful of the need to protect the consumer, particular those in the low income bracket of these run away oil prices, the Nevis Island Administration has decided on the following increases. As of June 1st 2008 a 100 pound cylinder will move from $140 to $160 and the 20 pound cylinder will move from $30 to $35.

It is absolutely important to note that the Nevis Island Administration will continue to subsidise each 100 pound cylinder by at least $80 and the 20 pound cylinder by at least $16,” he said.

Mr. Daniel compared prices of domestic gas throughout the OECS and concluded that most of the countries paid more than Nevis.

“A comparison of cooking gas prices in the OECS is useful so that consumers can understand the rational behind the increase. In Anguilla the 100 pound cylinder goes for $220. In Antigua $108, in Dominica $215, in Grenada $216.55, in Montserrat $145 in St, Kitts and Nevis $140, St. Lucia $210, St. Vincent and the Grenadines $ 173.50 there suggest to us that the only other OECS country that sells a 100 pound cylinder of LPG or cooking gas for less than ST. Kitts and Nevis is Antigua where it is retailed at $108.

“The 20 pound Cylinder in Anguilla sells for $59, in Antigua $ 20.95 in Dominica $44.10, in Grenada $43.81, in Montserrat $ 29 in St. Kitts and Nevis $30 in St. St Lucia $33 and in St. Vincent and the Grenadines $37. Again it shows that most of these countries pay more for the 20 pound cylinder than the consumers in St. Kitts and Nevis,” he said.

The Minister called for the support and understanding of the public, given the inability to hold down the price of oil on the world market.

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Nevis Economy Strong For Early Part Of 2008

Nevis Budget - Fiscal Year 2021

Money - Dollars

Nevis Island Financially Strong

Charlestown, Nevis
May 30, 2008

Nevis has recorded a surplus for the first four months of 2008. Premier and Minister of Finance in the Nevis Island Administration (NIA) Hon. Joseph Parry made the disclosure on May 29, 2008 on NTV Channel 8, in report on the island’s financial status.

“In the first four months for the year, that is January, February, March and April. In the month of April we had total revenue collected at $12,979,372. that compares against  a total expenditure of $8,370,463. giving us a total surplus of $4,608,909.

If I compare the first four months of last year to the first four months of this year, it would read as follows: At the end of April last year, there was a total deficit of $7,986,930. for this year for the first four months of the year an overall surplus of $2,902,235,” he said.

The Finance Minister said the surplus under the Nevis Reformation Led Administration, was an indication of the strong financial status of Nevis, a situation envious by any Caribbean government and in the world.

Notwithstanding, Mr. Parry gave the undertaking that the government would continue to exercise financial prudence.

“What this means that we are in a very strong position financially for the first four months of the year and let me explain this. We are not only in surplus in terms of current expenditure and revenue but we have an overall surplus when we give account of capital expenditure and revenue.

“That is a very strong and healthy position that any government in the Caribbean and any government in the world would like to be in. I assure you that we will continue to exercise financial prudence to make sure that the finances of this government and the country are in order,” he said.

Mr. Parry said he was pleased to report the financial situation to the public because it was useful to know what was happening with regard to government finances. He said there was a concerted effort at the last sitting of the Nevis Island Assembly to give the impression that the state of the finances was less than healthy and it behooved him to report on the situation.

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St. Kitts – Nevis Transforms Local Economy

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St, Kitts Scenic Railway
Photo By Erasmus Williams

Basseterre, Saint Kitts – Nevis
May 21, 2008 (CUOPM)

St. Kitts and Nevis which closed its three hundred year-old sugar industry three years ago is reporting success in the implementation of strategies to transform the national economy.

Political Leader of the governing St. Kitts – Nevis Labour Party, Prime Minister Hon. Dr. Denzil L. Douglas told hundreds of Labour Party members and supporters, representatives of the diplomatic corps and business community at his party’s 76th Annual National Conference, that the success of the strategy is quite evident in the economic, social and physical infrastructure, which has been dramatically overhauled and expanded and which has acted as a magnet for foreign direct investment.

Indentifying the various projects aimed at unleashing high-end tourism services, the St. Kitts and Nevis leader referred to the strides in other areas such as financial, information and communication technology and offshore education services, which he said are already delivering substantial social and economic benefits to the people of the federation.

“Our roads and bridges are now among the best in the Caribbean region despite the recent setback. Our telecommunications services are the state-of-the-art and are now much more affordable and competitive and local ownership is now shared because of the new legislative and institutional framework that we have established,” said Dr. Douglas, in his address at the St. Kitts Marriott and Royal Beach Casino.

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