The decision has been taken to remain “extremely conservative” in determining revenue projections as it related to the medicinal marijuana industry.
Camillo Gonsalves, Minister of Finance said in his 2019 Budget presentation that they were taking into account the time required to establish and operationalize the Authority.
“The steps involved in conducting due diligence of applicants; the licensing and the establishment of cultivation and production facilities that can meet the legal and technical requirements,” he said.
This therefore meant that revenue coming in for 2019 will primarily be derived from licensing fees.
The minister of finance added that it was hoped that sufficient traditional cultivators will take advantage of the amnesty provisions, under the cannabis legislation in order to generate some level of export revenue this year.
“Going forward, after licenses are issued and production facilities established, we expect to provide enhanced and increasingly more predictable revenue projections,” Gonsalves said.
He later appealed to those already involved in the informal trade to be open minded about the possibilities of legitimate production and eventual export of medicinal marijuana.