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Apr 29, 2015

Citrus Farmers Receive Boost With… You Guessed It, Petrocaribe Funds

Dean Barrow

As we mentioned earlier, Petrocaribe monies will be used to bail out C.P.B.L.  It’s not the first time the company is being assisted, so to speak, by government. In fact it happened just last year when U.D.P. insider, Doug Singh, was placed at the helm. But the company is in trouble again, and apparently have been unable to pay citrus farmers to the tune of millions of dollars. Enter Petrocaribe…

 

Prime Minister Dean Barrow

“There’s been a problem with CPBL. I’m happy to see the president of the Chamber of Commerce is here…I hope it is in solidarity with the citrus farmers. There’s been a problem because there is this lag between sale of products by CPBL and collection of the monies so the farmers haven’t been able to get the entirety of their first payment and they need monies now to start refurbishing the fields…they need their monies. Government, out of Petrocaribe funds, and the farmers of CPBL were told this…will provide a two million dollar capital facility so that the farmers can get paid now what they are due. They actually need four million. I have gone to Heritage Bank and Heritage Bank says it will put up the other two. I believe Steve is a man of his word. But it has to go to the board. But if that doesn’t happen, we will give them the entire four million dollars. When I say give, they are not asking for a handout. CPBL will pay us back. We did it last year. We thought it was one off. It took rather long, as Joe Waight keeps reminding, than they had promised, but they paid it back. And Petrocaribe and the government are happy to help the citrus farmers.”

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1 Response for “Citrus Farmers Receive Boost With… You Guessed It, Petrocaribe Funds”

  1. Ricky Malthus says:

    This action demonstrates poor fiscal management. Management continues to repeat the same ineffective method of managing. Why not create an escrow fund from profits each year so farmers can be paid without waiting for their crops to be sold to E.U? They also have to finance management to sell to E,U.? What is seen here is ” duncy” fiscal management.

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