As we've been reporting since last week - there's a crisis in the Citrus Industry. Farmers can't get paid because the Citrus Products of Belize Limited -which owes them, hasn't found an auditor to satisfy their bankers - and until they do, their accounts remain frozen, and the farmers are out a million dollars - which increases weekly.
Add to that the enduring hostility between the majority shareholder which is the Citrus Growers Association and the minority shareholder Banks Holdings - plus the fact that industry wide earnings are way down, and you've got a full blown crisis in one of Belize's most important agro-industries.
And that's where the Prime Minister had to enter today. He held meetings with the two growers groups, Belize Citrus Mutual and the Citrus Growers Association. They're trying to map a way to get out of their short term cash problems, and their longer term difficulties with Banks Holdings.
At an emergency meeting last Saturday THE CITRUS GROWERS took a resolution that they will agitate to buy back the 47% shares from Banks Holdings for over 20 million dollars and their intention was to approach government for assistance.
And that brings us to this afternoon's meeting. We caught up with the PM and the CGA as they finished meeting an hour ago at his Belize City 
office. There were no specifics - but clearly an intent to work together:...
Prime Minister Dean Barrow
"I think it's fair to say that we think we are making some progress but there is a great deal left to be done and I don't know that I can take it beyond that."
Jules Vasquez
"Are you all able to say where you stand with CPBL; the debt outstanding, the frozen account?"
Eugene Zabaneh
"No I think we have made some good progress today and we have quite a bit of work more to do and hopefully within the next few days we will certainly be back with PM to report again."
Anthony Chanona
"I think the Prime Minister has made it clear to us as part of the industry that his focus is to do what is right, not for any one side, but for the citrus industry of Belize and following today's meeting, I would want to think that all the obstacles that are before us and the crisis that is on hand has a very good chance of being resolved and I come away from this meeting having the full assurance that the Prime Minister's - the weight of his office will bring the parties together and we will resolve this crisis."
Jules Vasquez
"Is there any likelihood that you all may be able to buy over CPBL as you all have resolve to do but its many millions away."
Eugene Zabaneh
"Right now we are setting the stage and we have to do certain things in the immediate future and that's what is being spoken of right now. So I think once this is done then probably stage 2 will set in."
Jules Vasquez
"We know Mr. Prime Minister, many times in these cases, these industry crises, the government is turn to support whether to underwrite a loan perhaps or to assist with money. Is that something the government is contemplating at this time?"
Prime Minister Dean Barrow
"We are contemplating all options. We will do whatever is necessary to help and indeed the question of funding to assist the industry must be part of the formula, so the short answer is government will help in any and every way including putting in financing."
The Prime Minister says he has not yet spoken with Banks Holdings, but plans to do so.
Email
Print