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Another Sweet Fiasco?

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Submitted by Crusoe

According to our Nation daily, there has been some confusion on the start of the sugar cane reaping season, with farmers unaware of the schedule set by the authorities.

However, the Government has indicated its intent to invest taxpayer dollars heavily into a new sugar processing plant, costing hundreds of millions.

Does it seem logical, that a Government so intent on splurging taxpayer dollars, cannot even manage a sugar cane reaping schedule and that there is so much confusion between government and farmers?

Does the right hand know what the left hand is doing?

Do they even care?

Or is intent only to spend taxpayer dollars on a failing industry? To the benefit of, not the farmers, not the taxpayers, but those who are contracted to build the plant, take their profits and walk away?

Leaving taxpayers to repay a huge loan and farmers no better off?

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170 responses to “Another Sweet Fiasco?”

  1. Colonel Buggy Avatar
    Colonel Buggy

    We are a sick nation indeed,or a dying one. Only this morning the main players in the sugar industry have informed the nation that they have no money to start this year’s sugar harvest. A few hours later, we heard from the Minister of Culture ,Stephen Lashley, that today is the Official Start of this year’s Crop Over Festival.
    Tell me that this is just a sick, sick ,sick joke!

    The country mash up!!

  2. St George's Dragon Avatar
    St George’s Dragon

    @ Norst
    1. What is the tamarind yield in the trials and how does it compare with the assumptions in the original study?
    2. What is the anticipated annual payment to the new private company?
    3. What is the anticipated rate of return on capital invested by the company?

  3. Colonel Buggy Avatar
    Colonel Buggy

    Prodigal Son January 28, 2015 at 7:52 PM #

    Waste of borrowed funds……why dont these morons stop borrowing expensive money? Why are these morons putting these heavy burdens on our children to repay!
    ………………………………………………………………………………………….
    We are not into erecting statues. Lets face, it who wants to see more ugly , monstrous stupid statues ,like Bussa . But we are into the erection of “I -built-that” Monuments, like Greenland, the white elephant crossover by CBC, “Simpson’s’ Roundabout. Water Authority Head Quarters. Coverley Concentration Camp, etc etc.

  4. St George's Dragon Avatar
    St George’s Dragon

    @ Norst
    Missed a few questions:
    4. Will the private sector debt be classed as Government borrowings under accounting rules and if it is, by what percentage will Government debt rise?
    5. What will the effect be of any additional Government debt on the ratings agencies’ assessment of Barbados?
    6. How is Government intending to finance the “field-side” work?
    7. What is the anticipated annual repayment for this?
    8. If interest is expected to be paid on this, what rate is it payable at?
    9. Repeat Q4 and 5 for the field-side finance.

  5. ac Avatar
    ac

    raw mout prodigal why don’t u shtfup where were you all the years when the the big elephant KO wa being built, the piece of sh,t was and is unsustainable, the [by products from the multi purpose plant (although i belive that a profit margin would be modest by any economical standard )have a good measure of potential if well managed and properly developed, indeed the multi purpose factory might be a long shot given the overall worldwide negative report on the future of the sugar industry .however it still is an adventure worth pursuing. ,.
    now get rid of yuh talking points and stop sending them ignorant messages to mia, between you and affta mia might end up in jenkins, ,

  6. My Two cents Avatar
    My Two cents

    Two items caught my attention in Estwick’s last public pronouncements at Inniss’ constituency meeting. First he told us what clear thinking people knew long ago that is under no circumstances will Trinidad be laying any gas line between TnT and Barbados. Why would Trinidad supply Barbados with the energy to compete against their monopoly dominance of Caribbean trade like manufacture etc. Ninety percent of CARICOM trade involves TnT and benefits TnT only. Barbados has nothing TnT wants except maybe a low crime regime.

    The second item is Estwick’s claim that he is certain in the knowledge that there is lots of gas and oil in Barbados. He didn’t specify onshore or offshore. If as a cabinet Minister he knows this why are we so slothful in exploiting this resource that could set us free from the oil and gas exporting vultures including our own neighbors who rape us economically.

    If Mister Estwick or any of his boys reading this can we sir have more information on this matter of national significance.

  7. Crusoe Avatar
    Crusoe

    Norst the Invader January 28, 2015 at 7:51 PM # Prodigal Son
    the government aint borrowing a cent for the new multipurpose factory, it is a foreign direct investment by private company made up of investors from UK, Brazil, South Africa and Germany

    So, you are saying that the Government will not have to pay back that money to those investors? That the Government will not have to pay a penny of the capital costs, now or in the future?

    That is something for sure, IF TRUE.

    But, then my understanding of what was reported, re Government approving USD250million for this project was incorrect, I will have to revisit that aspect.

    That USD250million would be better invested in solar power, that is where the facilitation should be, although, with solar, the main people to get ‘payback’ are Barbadians and Barbados, through savings foreign exchange form expenditures on oil and on continued operating savings.

  8. Crusoe Avatar
    Crusoe

    Wait, allegedly, the Chamber of Commerce was told that the ‘struggling sugar industry’ will get the money for harvest, papers have been signed with Ansa Merchant Bank….

    Another loan? Did we have to do this every year for the past fifteen, or is Government suddenly unable to do make the appropriate payments?

    Secondly, now we are hearing that the Bridgetown Port is in financial trouble and needing an injection from Government.

    Sorry, but why all of a sudden is money unavailable? Has it gone walkies?????

  9. Crusoe Avatar
    Crusoe

    I think money getting teef left right and centre.

  10. David Avatar
    David

    Based on the accusatory position taken by the PM at the BCCI luncheon yesterday towards the private sector what is the government’s position then on the future of the sugar sector?

  11. Norst the Invader Avatar
    Norst the Invader

    David
    The PM was right to take a turn in Edward Clarke and Patrick Bethel, they would never have so stupid if they were dealing with Arthur.

    You think the PM was going to be foolish enough to put the ‘new’ sugar cane industry into the hands of Sagicor? Look at Sagicor, the moment Barbados had a little problem that affected them, they up and run to another jurisdiction.

    Patrick Bethel knew full well what he was doing when he put that paid advertisement in yesterdays newspaper. Edward Clarke and Patrick Bethel, two cohorts, playing politics and the PM clearly knew…………..thats why he could afford to slap both of them publicly.

  12. Vincent Haynes Avatar
    Vincent Haynes

    Can someone succintly state what is wrong with Sagicor taking over the Sugar Industry.

  13. David Avatar
    David

    @Norst

    What does promoting a fractured relationship between private and public sector achieve? In the final analysis Barbados Farms owns half of Barbados. Operationally what would you have Sagicor do, sink with Barbados as our sovereign credit rating dives to unclassified status?

  14. Norst the Invader Avatar
    Norst the Invader

    David,
    Barbados not need those type of friends. You and I both know that the TnT investors in Sagicor was only looking for any reason to move the H/Q to Trinidad so that they could collect the tax revenues.
    What the Cane Industry Restructuring Project is complete, the new multi-purpose factory and co-generation plant is working and making money, then Sagicor with all their billions and vertex interesting sugar, can approach the GOB and trump up some money to buy it as a income producing, cash flow positive asset. How about that?

  15. Norst the Invader Avatar
    Norst the Invader

    vested interest, sorry

  16. David Avatar
    David

    @Norst

    If the public had sight of the businesscase and project plan we might have confidence.

  17. Bush Tea Avatar
    Bush Tea

    @ David
    If the public had sight of the businesscase and project plan we might have confidence.
    ++++++++++++++++++++++++
    ..if we had sight if the businesscase and project plan it is far more likely that we would realize that the whole thing is just a roll of shiite, designed to kill time until pension time is fulfilled and generating some funds on the side.

    ….at the expense of brass bowl bajans and their children and grandchildren.

  18. Big Noise Avatar
    Big Noise

    I hope the EIA for the new sugar factory has been done and that it covers the noise impact on local residents from the air-cooler chillers which are part of the new generating plant. Water cooling is much cheaper but apparently there is no available water in the area. The residents are sure to find it pretty noisy.

  19. Exclaimer Avatar
    Exclaimer

    Have we as a nation really considered the implication of running down our agricultural industry?

    Taking land out of circulation to build hotels, properties and all the rest is plain dumb.

    Read the article below.

    Have we reached ‘peak food’? Shortages loom as global production rates slow

    http://www.independent.co.uk/environment/have-we-reached-peak-food-shortages-loom-as-global-production-rates-slow-10009185.html?origin=internalSearch

  20. Boy Blue Avatar
    Boy Blue

    Crusoe January 29, 2015 at 5:28 AM #

    I think money getting teef left right and centre.
    …………………………………………………………………..
    Cor bli me ,and we have the gall, me included , to point fingers at Ms St Hill and the Nigerians in general.
    Perhaps the Nigerians are here to learn a thing or two from the pastmasters of crookery.

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