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Mar 6, 2012

Leader of Opposition on Nationalizations

Those legal problems Fonseca is referring to, includes the lawsuits that resulted from the takeover of Belize Telemedia Limited and Belize Electricity. So we asked for his take on the nationalizations and if elected, would he reverse them?

Francis Fonseca

“On nationalization, I’ve made it absolutely clear and I’m very happy to make it clear once again, there’s no turning back on those nationalizations. B.E.L., B.T.L., BWSL are publically owned utilities and those utilities will remain government owned, majority owned by the government of Belize under my leadership. That will not change. The point I’m making is that we owe for these companies. We have a huge bill that is waiting to be paid for these companies.”

Marleni Cuellar

“To be determined and paid.”

Francis Fonseca

Francis Fonseca

“To be determined and paid. And the churches, the Chamber of Commerce have said they support fair and prompt compensation. That is our party’s position. So there has to be some discussion about how we settle these matters. It obviously has to be a settlement that will take place over a period of years. The government of Belize cannot and will not be in a position to make any lump sum payments on these matters. It has to be over a period of years and we will be guided, as I keep saying, by the legal opinions that are already in place and by the valuations that have already been done because very reputable companies, international companies, have carried out valuations of these assets. And we have to be guided by that advice and the work that has been done already. But it forms a basis for us sitting at the table and trying to find solutions to these problems and putting an end to this complex web of legal activity, which is only benefitting the lawyers quite frankly.”

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1 Response for “Leader of Opposition on Nationalizations”

  1. theman says:

    Not on party lines, but in away I an Glad that The PM hold his Office. The better of two evils

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