Tuesday, May 5th, 2015. BMG: According to the legislation, Alba Petrocaribe (Belize Energy) Limited” or “APBEL” is a joint venture company owned by the Venezuelan State Enterprise, PDV Caribe and the Government of Belize company, Belize Petroleum and Energy Limited.
The funds being attained from petrocaribe has been of great concern for the PUP and its leader, Francis Fonseca who is now circulating a letter to gain support in repealing the Petrocaribe legislation. Fonseca said that this letter has circulated to the general and business community for them to sign if they are in support of the movement, but he and his party are prepared to do it on their own.
Although the government has made it clear that it has no intentions of repealing the act, Fonseca insists that Dean Barrow’s administration does so immediately.