2 days ago
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As for the Cabinet, the group saw presentations from BTL, the Social Security Board and the Public Utilities Commission yesterday in Belmopan. Those presentations focused on the commercial, shareholder and regulatory aspects of the proposal. According to the PM, there was little he is able to say about yesterday’s meeting.
John Briceño, Prime Minister of Belize: “What they did is that they did not necessarily vote in favor but they voted that they should go and obtain… I’m trying to remember the exact word that they used but pretty much gave the green light for their members to be able to proceed with approval at BTL, but as they made out the point they can decide for BTL it’s the board of directors that decide. Also the Public Utilities Commission came in to be able to also to explain to the regulatory framework and to point out should this merger proceed where under the act it is covered because it is covered under the act and they also pointed out to cabinet that they passed an SI that all prices have been frozen until December of 2028 because they said that then that would give them enough time to put the proper regulatory framework should there be a merger to have a better to have better regulations to regulate the industry just as what we do with BEL and also BWSL. Now the idea is now that we want to hear from everybody. So we have invited the NTUCB, a representative from NTUCB and from the Chamber for them to come in. Hopefully they can come in on Thursday. And for us then so we can hear their views as to why they believe that the merger is not in the best interest of Belize and by extension the taxpayers. The next step then would be then on Tuesday then cabinet will deliberate to see what they believe is ,again after getting all this information, for them to make an informed decision. I have informed cabinet that on Tuesday whenever that deliberation will start I will step out of cabinet. As you know, it’ no secret that my brother is one of the founders of Speednet and as such I think it would not, I believe that it would not be proper for me to be in the office for that discussion. So, pretty much that’s what we are. So, that’s as much as I can say.”
Cabinet is expected to deliberate on the proposed acquisition next Tuesday, August 18.
English (US) ·