Belize - Belize News - - Great Belize Productions - Belize Breaking News
Home » Economy, People & Places » BCCI Awaits Amendments Before Formulating Clear Position
May 19, 2015

BCCI Awaits Amendments Before Formulating Clear Position

Arturo Vasquez

While the chamber, as a social partner, may not be joining the PUP to seek a repeal of the PetroCaribe Loans Act, it is in receipt of a letter from the party suggesting an alternative to the contentious law.


Arturo Vasquez

“The other position I think the Opposition has taken and we have received a correspondence on that, I just received it yesterday, is I think they are recommending a different act to manage this money and that they have officially written us on and provided us with a draft of what that act should be.  I think it’s something similar to what the Petroleum Act or something that they had before.  Again, that is something that we just got yesterday and that’s perhaps another way that they are looking at it.  We haven’t addressed either one as yet. In whatever we do we make sure that we know what the other parties are doing.  We had written the bar association really to see what their position was because, to be honest we are lobbying for the business community when in fact the legal minds should be looking at the legal side of this thing.  The bar association has since written us and said t us that they understand that the bill is now and act and is presently the subject of court proceedings and because of that they have refrained from doing anymore inquiries.  I think we have taken that same position to make sure that we leave that as it is.  As it relates to the amendments that the prime minister has recommended that would be done to the act, we have not found a draft so I believe that until a draft is done then you can see really the wording as to how the amendments will be made.  So until that draft is available I think that for now we can only look to see where the prime minister again has addressed the two areas as I said.”

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

You must be logged in to post a comment Login