On Friday the crisis in the sugar industry became the most relevant issue discussed at the House of Representatives.
By crisis we refer to the fact that that thousands of cane farmers have not been issued with their third payment for last year's crop - which was due weeks ago - and more worryingly - BSI - does not have the money to start up the next harvest on December sixth.
That's because the sugar company lost its financing in September - and without a banker - they can't move into the next season. The problem is acute and tensions in this volatile industry are high.
That's why Deputy Prime Minister Gaspar Vega and the Minister of Agriculture Rene Montero convened an emergency meeting with all the major stakeholders in Orange Walk Town today.
Just getting the Sugar Cane Farmers Association and BSI to the same table is progress in the current climate - and according to the Agriculture Minister, definitive dates and plans were arrived at:..
Rene Montero, Minister of Agriculture
"It seems as though the farmers will receive their 3rd payment as early as next week and that the cane season will start as predicted on the 6th of December."
Alffredo Ortega, Chairman, Committee of Management - BSCFA
"Today we had a good amount of information even though we don't have a set date on when this payment will be done to farmers but a point of interest that was cleared is that before we had this meeting it was uncertain that BSI will comply in giving any interest to the farmers but now we hear it from the voice of Mr. Montalvo that yes there will be some sort of interest in regards to the amount owed to farmers at this time."
Joey Montalvo, Director BSI
"We are at this stage today as we speak the Social Security Board will be meeting this afternoon and will be reviewing the revised security mechanism and we expect to get a formal revised offer letter for the 10 million and their agreement and approval for the revised security payment mechanisms and once we have that we will be able to pass that on to our financiers for them to work on securing the waiver. We've been speaking with them and we've impressed upon them the urgency for us to be able to get it done as quickly as they can give us. And we can then go back to Social Security and provide them with the response from our financiers and hopefully be able to fix a date for the first draw down which will be applied to paying the cane farmers."
Gaspar Vega, Minister of Natural Resources
"It is very important for the economy of the entire country not only of the north and we are aware of that. We are aware that the entire north depends on this industry and we know what it
means to them. At the end of the day it is our responsibility."
And while BSI and Social Security are trying to re-configure the 10 million dollar loan - the Prime Minister has also indicated his readiness to seek funding abroad - if BSI runs out of commercial options. As Montalvo explained, securing any new partner will require a substantial commitment from the Cane Farmers in ensuring higher quality yields.
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