Loggers cheat Solomon Islands

Loggers cheat Solomon Islands

The Solomon Islands government says logging companies operating in the country have been cheating Solomon Islands of millions of dollars in timber export revenues annually. It will attempt to recover US$300,000 from logging companies immediately.

The Solomons Voice newspaper reported on April 16 that the government estimated that the Solomons were losing US$5 million annually from underpricing of timber exports.

The government said logging companies operating in Solomon Islands get very low quotations for timber prices from their agents overseas, sometimes less than half the prices on the international market. The companies then quote the understated prices to the government, on which they are charged export duty.

Both the government and the landowners lose a lot of money through this practice.

[Pacnews via Pegasus]

From GLW issue 98