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May 18, 2015

Chamber of Commerce on Petrocaribe Loans Act

The Belize Chamber of Commerce has taken a position in respect of the Petrocaribe Loans Act which is in line with the pronouncement of the unions and the P.U.P. as well as the VIP.  On May fourteenth, the Chamber wrote to the Prime Minister underlining that while it is not against the Petrocaribe Initiative, it could not support the Loans Act because it flies in the face of progress reached in the Finance and Audit Reform Act which the private sector and unions had so heavily fought for in 2005. At the time, the FARA seemed to be the answer to rampant corruption. Says the Chamber “Unfortunately, the Petrocaribe Loans Act is the antithesis of everything that was fought for and represents a reversal of all that was attained by the FARA.” The chamber also says central to the principle of good governance, must be the reporting by parliament to the people on the way public funds are spent and assets managed. The Chamber is of the view that good governance must by necessity include and welcome strict oversight by the Auditor General, the Public Accounts Committee and a fully empowered senate.

 

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1 Response for “Chamber of Commerce on Petrocaribe Loans Act”

  1. Ali BaBarrow says:

    Like this really matters?

    Ali and his thieves run the country, they do what they want. screw off!

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