BSCFA Says BSI’s Audit Rights Were Offered at a Bad Time

BSCFA Says BSI’s Audit Rights Were Offered at a Bad Time

Love News has been following up on the current state of the ongoing sugar impasse which does not seem likely to come to an end before the start of the new crop season. At least, this is how the Belize Sugar Industries Limited (BSI) and the Belize Sugar Cane Farmers’ Association (BSCFA) feel since there are claims of foot-dragging on both ends. The disagreement stems from a new price-sharing mechanism that sees a 60-40 split instead of the current 70-30 split. This was proposed by the cane farmers as they believe it will be more beneficial for them. The BSFCA has also said that BSI has been sneaking in charges, which affects their profit share, and insists that the BSI be more transparent with their audits.  BSI’s Country Manager, Mac MacLachlan says they have given the BSCFA an audit right to bring in an independent auditor who can fact-check the figures, but the BSCFA has refused.  BSCFA’s Chairman of the Committee of Managers, Fred Ortega, says it’s not that they refused, but they feel as though the offer is disingenuous 

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