Sugar money coming
$32 million included in estimates for independent farmers and BAMC
A few million dollars more of sugar support money will be provided through the upcoming Estimates of Revenue and Expenditure.
Minister of Finance Chris Sinckler said today the $32 million bond proceeds from Ansa Merchant Bank of Trinidad and Tobago and the allocation in the 2015-2016 estimates, should be enough to fund this year’s sugar crop and get it started by its revised date of March 23.
Chairman of the Barbados Sugar Industry Limited (BSIL) Patrick Bethel, told Barbados TODAY the independent farmers whom he represents, are ready to harvest their canes. ”The crop will start on March 23 if the Government gives the money. We [independent farmers] have been paid. We have our money, but the challenge is the BAMC [Barbados Agricultural Management Company],” Bethel added.
Part of the $32 million split up between the farmers and the BAMC has become the centre of controversy with the Ministry of Finance telling the corporation it has repay an earlier advance from the Treasury from those proceeds.