Belize - Belize News - Channel5Belize.com - Great Belize Productions - Belize Breaking News
Home » Economy, Miscellaneous, People & Places » Patrick Rogers Says Nationalization of B.T.L. was Grossly Mishandled
Jul 4, 2016

Patrick Rogers Says Nationalization of B.T.L. was Grossly Mishandled

Patrick Rogers

According to Rogers, the final cost of acquiring B.T.L. is considerably more than what the previous government had agreed to when it signed on to an accommodation agreement with the company’s previous owners.  He says that the Barrow Administration blundered in its approach to dealing with the nationalization of B.T.L., particularly in delaying compensation for the company.

 

Patrick Rogers, Guest Presenter

“When the government changed and the prime minister said that there was something wrong with that accommodation agreement, he was right.  He should have gone and challenged that and take it to the CCJ if he has to and I believe he would have been successful in having a ruling to the effect where, you know, Mr. Ashcroft there was a crime committed on Belize and you were a part of it, you were a part of it, so you should have known that these brothers, as savvy a businessman as you are, you should have known that these brothers, the prime minister and the attorney general, did not have the authority to be signing away, giving up revenues of the country on their own.  They needed to go for the house for legislation.  But, in true corporate fashion Mr. Ashcroft said, well da Belize haftu challenge that.  The people of Belize now have to challenge that.  So we have missed an opportunity is what I am trying to say, where we could have had some wrongs done by prior governments addressed.  But instead of going after it the right way, we went after it the wrong way, forcing this issue like, because I am prime minister what I want to do will be done.  I made the point that the powers of the judiciary were being usurped by the passing of the Eight Amendment which they labeled to nationalized the utilities.  So today we see the people of Belize because we just went along with what the prime minister said that yeah, we have to nationalize this thing and we didn’t send anybody to challenge the arbitration when it occurred in London, and now that the arbitration ruling has come he started a challenge against it.  So we’re saying, you know you tek di man ting, you shoulda mi pay, I mean you know you shoulda mi pay fi dis ting.  It was at a book value of a hundred and sixty-eight million at the time the country took it over when it was nationalized, B.T.L.  So today, to have a value of, when you add in the loan which I want to speak a little bit about that too, the twenty-two point five million dollar loan that was loaned from Ashcroft’s bank in Turks and Caicos to B.T.L., when you add that ninety-seven million to the four hundred and fifty-three million, of course you see B.T.L. coming out costing us over five hundred and odd million, which cannot be a win for Belize.  It cannot be a win for Belize, but the prime minister in his wisdom said da wah win fu Belize because we noh haftu deal with the accommodation agreement.  Well brothers and sisters, that two hundred million in interest that we have to be paying is way more than what that accommodation agreement would have fetched Mr. Ashcroft.”

Be Sociable, Share!


Viewers please note: This Internet newscast is a verbatim transcript of our evening television newscast. Where speakers use Kriol, we attempt to faithfully reproduce the quotes using a standard spelling system.

Advertise Here

1 Response for “Patrick Rogers Says Nationalization of B.T.L. was Grossly Mishandled”

  1. Robert says:

    Barrow has no business sense- stick to law you arrogant moron- with all your big words and degrees you will not be remembered for 3 terms but for Guatemala fiasco, for paying 200m in interest and for placing little arrogant in charge of Btl which now has suck service- nepotist. You squanders a good start- too bad as now to can never fix it

Leave a Reply

CAPTCHA Image
*