The CARICOM Private Sector Organization has welcomed the announcement by the Guyanese government to remove the corporate income tax on income earned by commercial banks when giving loans to farmers in the poultry sector.
The initiative took effect yesterday.
CPSO noted that poultry meat is among the 19 agri-food opportunities highlighted in CARICOM's initiative to reduce the food import bill by 25 per cent by 2025.
Guyanese president Irfaan Ali says local commercial banks will lower their interest rates on loans for the poultry sector from eight to five per cent.
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