The province is deferring one of the fees that forest companies pay to harvest timber.
Stumpage is the fee operators pay the Province to harvest, buy, or sell trees from Crown land.
That fee is being deferred for three months.
The BC Government says the deferral will leave eligible companies with an estimated 80-million dollars to pay employees, contractors, and other expenses.
The deferral with interest is available to Tree Farm Licence, Replaceable Forest Licence, and First Nations’ Woodlands Licence holders who are in good financial standing with the Province.
They also must be following through on their reforesting obligations.
Forests Minister Doug Donaldson says this may allow some companies to get back online sooner rather than later when the pandemic begins to ease, or save some companies from having to shut down during the crisis.
