Cabinet OK’s casas de cambio

A number of decisions were made by Cabinet at its regular session on Tuesday. Among those made public are a green light for the establishment of casas de cambio at Belize’s borders and major tourist centres. These houses will provide handy foreign exchange services and will be licensed under the Exchange Control Regulations Act. At a later date, Bureaus of Exchange will be licensed for use by large earners of foreign exchange. The casas de cambio are intended to curb the widespread illegal market in foreign exchange. Other moves by Cabinet announced today include an allotment of duty free fuel for cane farmers as well as the restructuring of the Belize Marketing Board to better serve farmers and consumers. And in a move sure to be welcomed by holiday bakers, the price of butane gas has been reduced by five dollars per hundred pound cylinder, due to lower acquisition costs in Mexico. Butane will now range in price from fifty-one dollars in Corozal to fifty-seven dollars in Punta Gorda.