Categorized | National News

FNM: Sell BTC Shares To Bahamians

Free National Movement (FNM) Leader Dr. Hubert Minnis said if Bahamas Telecommunications Company (BTC) shares are put up for sale, they must be open for Bahamians to purchase.

On Tuesday, during a news conference, Dr. Minnis said if the prime minister had listened to the FNM a year ago when they said to allow Bahamians to purchase shares in the company, then they would have been reaping the benefits, seeing that the value of the shares has already gone up since Cable and Wireless Communications (CWC) purchased the company in 2011.

“The FNM has said categorically from day one that the nine per cent that was left there for the Bahamian populous should be open for them to purchase,” he said.

“They would have purchased those shares at yesterday’s value and it would have gone up today. That would enrich and create great opportunities for Bahamians.”

Prime Minister Perry Christie recently told a local newspaper that he has no interest in the government having managerial control of BTC and instead implied that he would like to offer shares of the company up for sale.

The Progressive Liberal Party (PLP), in its campaign promise, vowed to regain a majority interest in BTC.

Last week, Mr. Christie met with CWC executives to discuss the matter.

He said he would meet with cabinet and reveal the outcome of the meeting shortly after.

However, Dr. Minnis said he feels as though the prime minister’s latest statements are a hint that regaining the majority shares is not as easy as he thought.

“I have said that the FNM will lead this country from the backbench,” he said.

“The opposition will lead and tell them what to do. We told the government what to do with respect to the shares. The prime minister is finally listening. That’s step one. We’ve also brought a crime bill to parliament. Now I’m sure the government will bring their own with a few tweaks here and there, but I’m sure they will be listening.”

He added, “Whenever those shares are purchased, I hope they put the names of the buyers in the newspapers so that we can be assured that it’s not just the friends of the government.”

Written by Jones Bahamas

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