Cooler heads prevail between Government and BSI/ASR
Recently, we told you of the application for a court injunction that the BSI/ASR was seeking against the government. The application for an injunction was an attempt at stopping the government from implementing the new sugar regulations that the BSI/ASR has deemed as unfair and impractical. Tonight, we can tell you that while the application remains a live matter in the courts, both the government and BSI/ASR have decided to proceed as per the previous terms until the court proceedings have concluded. Chief Finance Officer of the BSI/ASR, Shawn Chavarria, spoke on the issue of the injunction and how an amicable agreement was reached.
It is good news for the sugar industry, at least for now. The day will come, however, that either party will have to adjust in accordance with the court ruling. CFO Chavarria told the media in a press conference, that the impacts on the sugar industry should the new regulations be implemented, could be a major setback for business.
Love News understands that the court is yet to set a date for the injunction application to be heard. Initially, July 21 was scheduled, but that has been adjusted. We will keep you posted on this development.