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Feb 8, 2016

Does G.O.B. Favor Foreign Entitles over Local Interests?

John Briceño

And while Briceño acknowledges the investment by the group, he questions the policy of Government…lending millions to a foreign company while refusing to lend to Belizeans.

 

John Briceño, P.U.P. Leader

“It makes me wonder what the policy of the government is. If you can recall a few years ago when B.S.I. was in a crisis and they had a cash flow problem, a group of the farmers were looking very seriously into the possibility of the farmers forming a group to be able to buy over the controlling shares of B.S.I.  They brought in experts from Mexico and Central American, an engineer to look at the factory and come up with a valuation and they came up with a business model of how they could pay for this investment. It was the government that refused to help the farmers. They refused to assist them in making any monies available. I brought it up in the House and the leaders of the cane farmers’ association met with the Prime Minister asking him to make a loan available to the farmers so that they can acquire B.S.I. and the government refused. So it makes me wonder what the policy of the government is. Here we are lending monies to a Guatemalan company, yet we have refused to lend money to the Belizean cane-farmers in the north.”

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