By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

The “national interest” means the Government has no reason to leave the Bahamas Telecommunications Company (BTC) alone, despite its projections of a 129 per cent increase in the dividends it will earn from the carrier.

Franklyn Wilson, a member of the four-person committee that has been negotiating with Cable & Wireless Communications (CWC) over the Christie administration’s bid to regain a majority equity stake, said the issue went “way beyond another $5 million”.

The Government’s 2013-2014 Budget shows the administration expects to earn $11.467 million in dividend payments from BTC during the upcoming fiscal year, more than double the $5 million it projected for 2012-2013.

The projected dividend increase is likely to reflect improved profits and operating income at BTC, and will again raise questions as to why the Government is devoting so much time and resources to winning back a majority stake in the privatised communications carrier.

Given BTC’s performance, under CWC’s management and ownership, some observers are likely to argue why the Government does not leave BTC ‘well alone’.

And with two members of the negotiating committee, ex-Ministry of Finance legal adviser Rowena Bethel, and former BTC chief executive Leon Williams, currently on the Board of Directors, together with PLP chairman Bradley Roberts, the Government is likely to have had a good indication of expected dividends.

However, Mr Wilson told Tribune Business: “The process that we’re engaged in here, that’s in the national interest and goes way beyond a few million dollars.

“There are other issues that go beyond getting another $5 million. There’s some other critical issues involved, and I continue to say that it’s my hope and prayer that the public get to understand that, in the fullness of time, and know why that is.”

Mr Wilson said talks between the Government’s negotiators, who also include former attorney-general Sean McWeeney, and CWC had not been “abandoned”, although he conceded they were moving slower than expected.

He also hit out at the former Ingraham administration for “deep evidence of unfortunate governance” related to the BTC privatisation and ultimate deal with CWC.

Yet he declined to reveal specifics when pressed by Tribune Business to go into detail on his allegations.

“The process is going a lot slower than both parties expected, but it’s not been abandoned,” Mr Wilson told this newspaper.

“The principals under which we started have strengthened, and I think, quite frankly, respect has grown.”

He further added: “I don’t want to pre-empt the details, but the evidence of unfortunate governance is deep - very, very deep.

“There are a lot of things that never, ever should have happened. We are still trying to get the deal done.”