... Growers fear Gov’t will raid coffers

Coconut growers fear that the State, through Agriculture Minister Karl Samuda, will renew efforts to raid the coconut board’s coffers of at least $2 billion, which it attempted to do under the current administration and following in the steps of Dr Peter Phillips, who served as finance minister under the last People’s National Party’s tenure.

For this reason, the coconut board has embarked on a series of meeting with growers across the island to make them aware of the pending legal changes, as well as the potential threats to their earnings, despite the fact that the Government has backed off, at least for the time being.

During the first meeting at the Anglican Church hall in Port Maria, St Mary, last week, the growers agreed to help the Government out of its financial bind by acquiring the Water Valley property, as well as taking some of the Government’s non-performing assets.

Frank Phipps, QC, one of five directors appointed by the growers to the nine-member board, used the occasion to articulate their position.

“What we have proposed is that we will be able to buy some of the assets that they are disposing of at a good price. We are in the business of development, so if they have assets that we can acquire to advance the coconut industry we will find ways to acquire them, but don’t touch the shares!” declared Phipps.

“If they believe they want to get those shares then they will have to go to court. We are in possession of the shares. Whoever wants to take it must take action. They go to court and although we will not seek a battle, we are ready to defend what we know is right. So neither morally nor legally does any person outside of the coconut industry has any claim on any of those shares.”