Categorized | National News

FNM: Lack Of Information On BEC Sale

Free National Movement (FNM) Chairman Darron Cash believes the prime minister is keeping some major secrets concerning the privatisation of the Bahamas Electricity Corporation (BEC).

In a press statement yesterday Mr. Cash said Prime Minister Perry Christie has some explaining to do with regards to the potential bidders interested in BEC.

During the latter part of 2013, BEC Executive Chairman Leslie Miller told reporters that the government was interested in privatising the state-owned power company.

He noted that different companies would be tasked with managing the company and another would be responsible for supplying power.

While he never named the companies interested, Prime Minister Christie said there were a few companies placing bids.

The FNM chairman now wants to know why there are no Bahamian companies being considered for the sale.

“Press reports suggest unwillingness by the government to publicly disclose the names of the bidders and the broad particulars of their bids,” Mr. Cash said.

“It is hard to understand why knowledge of the bidders is such a state secret. Then last week came the news that one of the bidders pulled out of the process. We are curious to know why? What was the deal breaker? Why is it that the company with the Bahamian component was the first to pull the plug?”

Mr. Cash said the prime minister has no genuine interest in empowering Bahamians.

“That is why Deputy Prime Minister Philip Davis said in early December 2013 that ‘it was too early to say’ how much involvement Bahamians would have in BEC’s planned reform, and that after the foreign investor was finished with the company in 10 or 15 years, then Bahamians would have a chance for meaningful engagement,” he said.

He called it a clear sign of a government that has lost the moral authority to govern.

His criticisms come as Prime Minister Christie is expected to meet with executives from Cable and Wireless Communications (CWC) to finalise talks surrounding the majority sale of the Bahamas Telecommunications Corporation (BTC).

Since CWC purchased 51 per cent of shares during the Ingraham administration, Mr. Christie had been pushing for the government to regain controlling interest in the company.
Mr. Christie said after the meeting today, he will announce the results.

Mr. Cash said the prime minister is simply playing politics when it comes to both BEC and BTC.

Written by Jones Bahamas

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