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Jul 20, 2016

John Briceño Breaks Down B.T.L.’s Acquisition Cost

John Briceño

Briceño, during the press conference, also broke down the arbitration award into annual payments, calculating the figure retroactively to the 2009 nationalization of the utility company.

 

John Briceño, P.U.P. Leader

“They have explained that they will borrow, but they have failed to explain how we will pay. They have said that they can borrow at three point two-five percent interest rate. What is three point two-five percent on five hundred and fifty-seven million dollars per year? That is worth over eighteen million dollars in interest payments alone per year. Prime Minister Barrow has said B.T.L. will make one hundred million dollars in dividends over ten years; that is ten million dollars a year in dividends. So in the simplest of terms, the cost of buying the company is not only five hundred and fifty-seven million dollars, but an additional eighteen million dollars a year on top. And what we get in return? Ten million dollars a year in dividends. How does that make sense? Every year, we are losing eight million dollars and we still have to find five hundred and fifty-seven million dollars to pay the B.T.L. debt. Where will that money come from? If it is not coming from B.T.L., is he going to raise taxes? The Prime Minister did not say no to new or increased taxes on Love FM this morning. Is he going to cut government expenses by retrenching people? Only Prime Minister Barrow and his closest advisors know how the punishment will be doled out on the Belizean people.”

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2 Responses for “John Briceño Breaks Down B.T.L.’s Acquisition Cost”

  1. Estaban says:

    We know how Dean Barrow will collect this money. Like always, he shall justify himself and make everything look pretty. He shall raise taxes on the poor and middle class. The UDPs have nothing to worry about because they won’t get touched. They will send GSU to raid the houses of well known PUP families and steal whatever they can. They shall cover it up and no investigations will be launched. They will harass and even murder business men and women who are not willing to finance their shenanigans.

  2. Kaila Moralez says:

    The CRIME MINISTER will compensate for the money from characters like WILLIAM MASON Daaah!

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