Democratic Labour Party spokesperson on Health Courie Cox.
A CALL has been made for the licensing fee to be lowered to allow more local players to enter the medicinal cannabis industry currently being developed in Barbados.
The call came yesterday from Democratic Labour Party spokesperson on Health Courie Cox, who expressed concern that history may be repeating itself, likening it to the sugar cane industry owned and managed by the elite class but average Barbadians relegated to lower-waged positions.
“This sector was worth approximately USD $13.4 billion in 2018 and its value is expected to grow to nearly USD $50 billion by 2024. As Barbados seeks to diversify its economy and reduce its reliance on tourism, investment in this industry and its potential contribution to GDP via direct and indirect taxes, makes it a worthwhile venture.”
He stressed that government must do more to encourage and facilitate the participation of locals into the production of medical marijuana at the highest levels of ownership. “The high price for a license is prohibitive. Is this deliberate? If it is not, then this Party is calling for the lowering of the license fee for locals and the establishment of a credit facility through Fund Access where financing can be disbursed with an interest free repayment plan.
“As Barbados embarks on such a lucrative enterprise, I am making a call to the relevant authorities to ensure that the ownership and major players in this game do not take on the look of previous leading industries in Barbados; most notably sugar and tourism.
“A vast number of tourism industry investors channel their profits overseas. With all the lessons learned from the control and influence of these two foreign exchange earning industries, it is essential that we not allow another major economic pipeline to fall into the hands of non-nationals.
During a town hall meeting last month, Chief Executive Officer of the Barbados Medicinal Cannabis Licensing Authority Dr. Shantal Munro-Knight announced that the licensing fee could be paid over time. “What we are doing is looking to have that license fee paid over a period of time. So a person with a cultivator license Tier one will be able to pay $29 700 in three installments. This will help to leverage the playing field because in this industry we consider the average Barbadian being able to participate in relation not only to the license, because there is the costs of set-up, security and everything else, but this will be an inclusive and integrative industry as stated in our core values.”
She once again urged that Barbadians think collectively about entering the industry, noting that “if five average Barbadians can come together and pool together, their financing to get into the industry and build as entrepreneurs in whatever category of license- absolutely yes it’s accessible”.
Cox also called into question government’s intention to cease charging persons in possession of small amounts of cannabis. “A $200 ticketed penalty was to be introduced. To this day the revision has not occurred. Just a few days ago four young men were stopped by the police and the punishment meted out ranged from community service for one offender to $1 200 to $3 500 for the other three guilty persons. The highest value of the cannabis found on each of the men was a mere $30. The penalisation should stop altogether.
“The country has to stop making criminals out of our citizens when they can be better served in society by creating means for them to realistically play a role in the Barbados Medicinal Cannabis Industry and our country’s economic advancement,” he said.