Following territory-wide outcry, Premier of the Virgin Islands, Honorable Andrew A. Fahie has announced that majority of the recently increased fees at the BVI Ports Authority will be postponed to 2022.
During a live update the Premier said “After having discussions with many stakeholders as well as with members of the Board and Management of the BVI Ports Authority, the BVI Ports Authority Board has agreed that the Authority will roll back the majority of the recent fee increases to the pre-March 2021 amounts.”
“This means that majority of the fees that formed part of the fee scheduled to take effect from May 2021 are postponed. Furthermore, the BVI Ports Authority has informed that the majority of the announced Port Authority fee increases will now be postponed until 2022,” the Premier later said.
The fee adjustments which were initially announced in January, came into effect March 1st resulting in increases of up to 500%.
This was met with contentious cries as many businesses are facing financial constraints and struggling to stay open in the midst of the Covid-19 pandemic.
Earlier this week, 284 Media sat down with a few business owners who were frustrated with the increases.
Todd Patterson of B & G Marine services said based on the increases “I’m estimating that our cost on parts will now be 45-50% over what we purchased them for landed, going to the consumer. So, their change will reflect a 15-20% price increase for my end user, which is substantial.”
Sinclair Flemming of P3 Plastic, Paper & Products said “It was very disappointing to hear them (BVI Ports Authority) say it’s not significant when you have a country that’s largely import and you’re going to raise your fees 100%. It is insane actually.”
“I’m even more deterred about new business coming in. People that want to seek capital, people that want to get into the market. The shipping cost, if anyone has been paying attention since Covid, has doubled. Customs department gets a percentage, plus shipping. So now you’re paying an extra percentage on your increased shipping plus an extra 100% on your wharfage,” Sinclair later added
These businessmen echoed the sentiment of the wider business community following the Port’s announcement.
The Premier has since said “we’ve listen to our people and we work with our businesses to find the solutions that allowed us to reopen the economy while continuing to protect and safeguard our people.”
While the postponement has brought temporary relief to the residents, Honorable Fahie maintains that the issues of the Port must be remedied.
“Simply put, the BVI Ports Authority has not raised its fees in over 25 years, but yet the demands on the Ports and its operation cost have significantly increased over the course of the past 25 years…we cannot run from this forever. We will have to find a way to do what is necessary while softening the impact it will have on the population.”
Click this link to watch full 284 Media’s full interview with the Business owners.