B.C. defers stumpage fees to aid forest industry during pandemic
Darpan News Desk The Canadian Press, 30 Apr, 2020 07:22 PM
Premier John Horgan says in a news release the government will defer stumpage fees for the next three months to help forest companies with their financial liquidity during the crisis. Stumpage is the fee forest operators pay the province to harvest, buy or sell trees from Crown land. The government says the fee deferral leaves eligible companies with about $80 million to pay employees, contractors and other bills.
B.C.'s forest industry was struggling prior to the pandemic; hundreds of workers had been laid off and numerous mills had closed in the Interior due to high operating costs and low timber prices.
Forests Minister Doug Donaldson says the deferral may help some companies get back to work sooner and could save other firms from shutting down completely.
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