Yesterday we told you about the appointment and activation of the Commission of Inquiry into the sugar industry. Well, to no one's surprise, ASR/BSI has rejected it.
More than that, the multinational which runs Belize's oldest and largest sugar mill says, it now has to, quote,"consider its options in Belize".
An exceptionally strongly worded press release today says, quote, "This decision is politically driven and totally erodes ASR's investor confidence as the largest US investor in Belize...It sends a clear signal to all prospective investors that the Government of Belize is not serious about investment in Belize and will not hesitate to damage investors for purely political gains. Once again, BSI has become the football in a game driven by political, not business considerations…BSI sees this Commission of Inquiry as a further assault on its business interests and outright bad faith by the government."
12 days ago, the company's attorney Godfrey Smith told us why the company would likely reject the Commission of Inquiry:
Godfrey Smith, Attorney - ASR/BSI
"I view this intended commission of inquiry in almost the same vein as the just struck-down regulations."
"That the purpose of that commission of inquiry will be for the same thing, to dig into BSI's guts, get it to produce all its sensitive commercial information for one purpose and one purpose only, which is to aid the BSCFA in its commercial dispute with BSI, and that would be a wholly inappropriate, wrong-headed and improper use of the power to issue a commission of inquiry."
The company ends its release with a kind of "wonk-wonk" saying, quote,
"BSI's plan was to become the sugar bowl of the CARICOM market…This objective is in jeopardy due to this latest….action by the government. ASR must now...consider its options in Belize.
