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Sat, Nov 18, 2017 23:51
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Catalyst Applauds Government's Decision to Cut PST on Electricity in 2017 Budget Update

RICHMOND, B.C. - Catalyst applauds the government's commitment to eliminate the Provincial Sales Tax (PST) on electricity for commercial and industrial users in its 2017 budget update, which will assist in protecting jobs in British Columbia's pulp and paper sector, says Len Posyniak, Senior Vice President, Human Resources & Corporate Services.

Effective this fall, the PST on electricity for commercial and industrial users will be reduced from 7% to 3.5%. On April 1, 2019, electricity for commercial and industrial users will be fully exempt from the PST.

British Columbia's thermo-mechanical pulp and paper sector supports 5,600 direct and indirect jobs across the province, generating about $250 million in annual revenue for governments. In B.C., Catalyst owns and operates pulp and paper mills in Powell River, Port Alberni and Crofton, a distribution centre in Surrey, and is headquartered in Richmond.

"Catalyst wants to thank the government for recognizing the importance of the pulp and paper sector to B.C.'s economy," says Mr. Posyniak. "The elimination of this tax will help industry in B.C. improve its competitiveness.

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