Categorized | Featured, National News

Is PLP Govt. In Cash Crunch?

Hon. Michael Pintard, Leader of The Official Opposition

While the Davis administration has touted economic recovery and growth, Free
National Movement (FNM) leader Michael Pintard has said the ‘New Day’
government is in a severe cash crunch and charged that the Davis administration “has
found a way to squander record revenues.”
The FNM in a statement on Tuesday said it is urging the government to get real on a
reported “cash crunch.” Mr. Pintard further chided the government over nonpayment
for goods and services received.
“It is distressing that this government has found a way to squander record revenues on
lavish travel, extravagant parties and excessive events. In the last month alone, the
Prime Minister has been crisscrossing the globe with large entourages, often for
ceremonial matters not critical to the execution of his duties,” Mr. Pintard said.
He chalked it up to “the typical PLP-style extravagant and wasteful spending of
Bahamian taxpayer funds”.
Mr. Pintard’s reason for lambasting the government, was outlined in a statement as he
noted that “the Opposition is gravely concerned with the significant number of
complaints we have received from Bahamian vendors and financial institutions
regarding extreme delays with being paid for goods and services. The issues with
timely payments have progressively worsened over the two years of the PLP
administration,” he said.
Mr. Pintard lamented that the government has been increasingly late in remitting
funds deducted from civil servants that should be sent to various credit unions,
insurance companies and other institutions on their behalf.
“Even though the funds are deducted from salaries monthly, an unacceptable number
of public servants are now facing late fees and lapsed insurance policies, because the
government is not sending the monies out to these institutions on time.
“We have also been informed that contractors within the Urban Renewal Program in
Grand Bahama have not been paid for months, despite completing roof repairs months
“Some contractors owed by the government indicate that their debts are being settled
in small installments due to the scarcity of funds available. Increasingly, businesses
only deal with the government if it pays with cash.

“Far too many family island government departments are allegedly not receiving their
allocated funds on time, putting extreme pressure on residents, businesses and those
who rely on the public purse,” the statement read.
Mr. Pintard suggested that the opposition will write to Prime Minister Philip Davis
and provide him with the details concerning these matters “to enable him to
substantiate the claims for himself and address the matter.”
“There are many such examples, and we will write to the Prime Minister and provide
him the specifics to enable him to substantiate the claims for himself and address the
matter. It is the view of the Opposition, however, that the New Day government is in
a severe cash crunch and cannot meet its routine obligations in a timely manner. The
cries and complaints from vendors and institutions are getting worse,” Mr. Pintard
He has called on the prime minister “to be frank with the Bahamian people regarding
the government’s reported financial challenges,” and added that there is a need for
change – a necessity – to regain the financial footing of the country.
“We will not tolerate some sad story when this government inevitably engages in tax
hikes and draconian spending cuts down the road; tough decisions can and must be
made in the public’s interest now,” Mr. Pintard said.

Written by Jones Bahamas

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