Local manufacturers in the tobacco and alcohol industries were last night discussing what effect increased excise and import duties on tobacco and alcohol products would have on their businesses.

Last night, Jean-Pierre du Coudray, managing director of the West Indian Tobacco Company (Witco), said that he could not yet say what impact the new measure will have on pricing of tobacco products as ’it’s a bit too early to say’.

He said he had been meeting with his management team to assess the implications.

Finance Minister Karen Nunez-Tesheira announced during the 2009/2010 budget presentation yesterday that government would increase the excise and import duty on tobacco products ’of common market origin and the tobacco tax on extra regional tobacco products, all by 15 per cent’.

She said this measure is expected to ’contribute an additional $30 million to government’s revenue and will take effect from today’.

She said the excise duty on locally manufactured rum, beer and other alcoholic beverages products will also be increased by 15 per cent. Additionally, the import duties ’on rum, beer and other alcoholic products from extra regional sources will be increased by 30 per cent’. This measure will also take effect from today, Nunez-Tesheira said.

Derek Waddell, managing director of Carib Brewery Ltd, also said last night that he was meeting with his management to discuss the measure and could not yet say what implications it will have.