NTUCB Challenges Government’s Stake Bank Acquisition

The National Trade Union Congress of Belize (NTUCB) has written to Prime Minister John Briceño, raising concerns over the government’s recent decision to compulsorily acquire a 24-acre extension of Stake Bank Island under the Land Acquisition (Public Purposes) Act (LAPPA). The NTUCB questions the legality of the acquisition. Th Umbrella Union argues that the project is a private commercial venture, and therefore does not meet the criteria for public purpose required under the law. The NTUCB is urging the Briceño Administration to reconsider its approach and abandon the acquisition before the second publication of the declaration, scheduled for October 8, 2024.

The NTUCB suggests that the ongoing dispute between Stake Bank Enterprises Ltd., currently in receivership, and its lenders is a private matter and should be resolved through the courts rather than through government intervention. The union also recommends that if the government insists on facilitating the acquisition, it should do so under the Land Acquisition (Promoters) Act, which would require an inquiry and the approval of the National Assembly, ensuring that the acquisition serves a public interest.

The NTUCB has posed several questions to the government, seeking clarification on the public benefits of the acquisition, the terms of any indemnity agreement, and the future of the Stake Bank project, particularly regarding its execution and regulatory consents. The union emphasizes that any acquisition must protect the interests of the Belizean public and ensure the government upholds property rights.