"Many producers have struggled to make a profit"

Canadian government establishes panel to grow local cannabis industry

Canada’s cannabis industry is finally getting an audience with Ottawa. More than three years after Canada legalized cannabis, the government plans to form a strategic panel led by the Department of Innovation, Science and Economic Development aimed at engaging with industry participants and other stakeholders to help grow the country’s domestic legal cannabis industry.

The measures will likely be welcomed by industry executives and advocates who have complained about a lack of interest from Ottawa in fixing regulations that have weighed on Canada’s licensed cannabis producers, many of whom have struggled to make a profit.

“Today's budget recognizes the scale and impact of Canada's cannabis sector,” said George Smitherman, chief executive officer of the Cannabis Council of Canada and a former Ontario health minister.

“The amendments to the cannabis excise duty framework are both technical and consequential for many license holders and the promised launch of a cannabis industry strategy table at ISED is a means for our sector to contribute more to the public health, social and economic goals for Canada.”

To read the complete article, go to www.bnnbloomberg.ca

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