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Oct 31, 2019

Boledo Contract Out for Tender, PM Says GOB will Insist on Larger Share of Proceeds

Dean Barrow

In 2009, the popular boledo franchise was privatized with Brads and Company Limited taking control of the administrative process. Brads was granted an exclusive ten-year contract and has been raking in millions of dollars in revenue while Government was paid only two million per year. Brads’ ten years is now up and after consideration, Cabinet decided that it would not automatically renew its contract with that company.  The contract will now be put to tender and according to Prime Minister Dean Barrow, G.O.B. is committed to a fair tendering process.  As to the reports that Brads is sixty-percent owned by Good Lee Limited, an I.B.C. registered in Saint Lucia, PM Barrow says he is not familiar with that information.  

 

Prime Minister Dean Barrow

“We are putting it for tender again. We are committed to the private sector handling but it is going to be a fair tendering process. There is not going to be any automatic renewal. The current concessioner will have to bid like anybody else for the next iteration of the contract.”

 

Reporter

“What about now with all the interest that this contract is gaining, trying to find out who is behind ownership. It’s under an offshore company, sixty percent shareholding.”

 

Prime Minister Dean Barrow

“I thought Brads was. I don’t really know. The fact is that as I said, we are satisfied that putting it out to tender and having a fair and transparent tendering process with the selection being made by the public officers in government is going to satisfy the government.”

 

Reporter

“With the exception of taxes on winnings and the two million dollars annual incense there is nothing else as the Financial Secretary has confirmed.”

 

Prime Minister Dean Barrow

“Government is going to ensure that there will be new terms and conditions to govern the new concession. In other terms government is going to insist in a larger share of the proceeds.”


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