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Mar 20, 2013

Belize Infrastructure Limited rivals Ministry of Works

In the budget presentation in March, the Prime Minister announced the establishment of a company to carry out a package of infrastructural projects to the tune of sixty million dollars. The company is the Belize Infrastructure Limited which was set up on February, twenty-seventh and its place of business is the Ministry of Works.  News Five has obtained a copy of corporate formation documents of the Belize Infrastructure Limited. Firstly, it is state owned company. Its main objectives are to undertake the design, construction and management of capital projects in Belize with particular emphasis on sporting and multipurpose facilities but it is not limited to that. The company will also consult with stakeholders on the uses of functions of sporting and multipurpose public facilities and will partner with the private sector in carrying out these functions.  Secondly, the Chair is Minister Rene Montero and co-chair is Minister of State Herman Longsworth who also serves as directors. The other directors are Joseph Waight, Financial Secretary, Audrey Wallace, C.E.O., Lennox Bradley, Chief Engineer, Allan Sharp, National Sports Council Chairman and Paul Thompson, President of the Belize Basketball Federation.  According to the documents, the directors will also be paid remuneration and travelling and hotel expenses to attend board meetings. There is also the following. Any director who resides abroad for any purpose of the company shall receive extra remuneration by way of salary or percentage of profits. From its stated objectives, the Belize Infrastructure will also be lending and investing monies and seemingly making profits which can be shared with directors. This is certainly a new type of state company.

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7 Responses for “Belize Infrastructure Limited rivals Ministry of Works”

  1. Barley Blair says:

    This is crass in your face hustling. Minister of Works will be awarding contracts to a company in which he is the Co-Chairman and paid director.

  2. blackberry says:

    Now use that same process to form a Belize petroleum company. The ministry of Natural Resources has the statistics on oil deposit in Belize. Have a Texas company drill one of those blacks and let the oil flow for Belize.

  3. Jose says:

    So they are investors and they are not using their own money, but rather public funds at that….and ” Any director who resides abroad for any purpose of the company shall receive extra remuneration by way of salary or percentage of profits.” PUP should outright say if they win elections they will abolish this company..the same thing the UDPs went against they are doing…poor Joe he is sacrificial lamb(?) his name is there only to legitimize the company..I wonder who is the incognito board member who will live abroad…I won’t call name lest Ch5 and I be sued. Talk about Gapy? take this….keep up the good work Ch5..for exposing “legalized” corrupt in government

  4. Gone fishing says:

    $60M/yr down the rat hole.

    if GOB can’t be accountable in public, why should this private-puppet company be a better way to spend tax dollars?

    They take over the phones & electricity; then offer stock to their friends who will run it with top salaries, when the timing is good.

    Accuse the bar as being a PUP front organization, put their power solidly in UDP control.
    Tell the courts they have very limited or no judicial review of laws the UDP invents.
    sell placencia national land to insiders, get caught, no crime, no error, no accountability, no firings, nice market value profit for insiders whose deal made public.
    rent Xunantunich to criminals, sell passports to Hezbollah, seize private land claiming it is for schools and give the land to political donors connected to the Catholic church. criminals rule the streets on GOB payroll. Police officers involved, but found not guilty of the largest coke bust. Free trade zones nests for the cartels. Need a website just to kep track of it all, organized by scandal and their latest developments.

    Yes set up that private poorly run company. It looks like a family owned oligarchy like Mugabe Unlimited might be a quicker model for the country.

    congratulations, the most corrupt government in the history of Belize.

  5. Storm says:

    Was this action ever discussed publicly in our parliament? What is the PUBLIC benefit of it?

    It obviously is just another slush fund account to siphon off more public money for more scams by crooked politicians. More money will be stolen, less work will be done.

  6. Bear says:

    @Gone fishing, you’re full of . . . TRUTH! You nailed it, every word is right.

  7. Seletar says:

    1. Where does the $60-million come from? Has to come from some other account, it didn’t appear out of thin air.

    2. Why would a publicly owned corporation be paying profits to any individual? Government should not be in the for-profit business at all, because political decisions are usually disastrous business decisions.

    I hope someone finds a legal way to challenge this new scam.

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