Monday, January 9, 2023
By EARYEL BOWLEG
Tribune Staff Reporter
ebowleg@tribunemedia.net
WORKS and Utilities Minister Alfred Sears said Deloitte has been engaged in a forensic examination of Bahamas Power and Light and officials should receive that report “shortly”.
“Deloitte is currently engaged in a forensic audit and I expect that audit will be before us shortly and once we have the audit, we will share it. We will put it before the House of Assembly,” he said on Friday.
Prime Minister Philip “Brave” Davis said last August his administration is considering staging a number of official inquiries, among them one that will look into the affairs of BPL.
However, Mr Sears could not say whether a televised inquiry was on the table.
“No, you’d have to speak with the prime minister. I’m focusing on the portfolio I hold and I can confirm that Deloitte is and has been engaged in a forensic examination of BPL and we should receive that report shortly.”
In November, it was reported that the government has hired Deloitte & Touche to conduct a 30-day “rapid assessment” of BPL’s massive $535m refinancing. Mr Sears told the House of Assembly that the Davis administration is “currently reviewing BPL” to determine if the proposed rate reduction bond (RRB) placement and other initiatives designed to restore the energy utility to financial and operational stability should proceed.
Meanwhile, the minister also gave an update on the committee set up to assess shanty towns.
“Two things: one is we have put together an inter-ministerial group which comprises of eight ministries, because they relate to the various issues involved. We will be seeking Cabinet approval for the constitution and functions of that committee within the next two weeks and the committee will then be able to speak with you and give you an update in terms of their work plan and their progress from time to time,” he said.
Comments
bahamianson says...
Soon, lolololol, Comical.
Posted 9 January 2023, 12:45 p.m. Suggest removal
ExposedU2C says...
After years of government corruption that has all but left BPL for dead, what it really needs is an autopsy report before burial as opposed to yet another of the many forensic reports it has received in recent decades.
"Slo Mo, Do Nothing" Sears's announcement of this Deloitte engagemnt is his way of admitting the corrupt Davis led PLP government, and the board and management of BPL, are all absolutely clueless how to proceed in addressing BPL's many problems. It also a telling admission that our corrupt government is penniless and unable to guarantee the great amount of capital BPL would need to borrow in order to address its costly problems caused by decades of corruption by PLP and FNM governments alike.
Instead of lining their own pockets with funds stolen by SBF/FTX, the corrupt political ruling class in our country should have long ago persuaded SBF to invest in resurrecting BPL from the near-dead. LOL
Posted 9 January 2023, 1:12 p.m. Suggest removal
birdiestrachan says...
Mr Sears is a good man intellectual and kind and no one on God,s green earth can take that from him, a great Bahamian solid unlike the fellow of toggie and boggie fame nor those who endeavour to help him out , now Mr Pintard has all of the answers him and Mr Cartwright it is to bad they were clueless when the FNM was in power how did they get so smart all of a sudden ? .?.
Posted 9 January 2023, 2:47 p.m. Suggest removal
ExposedU2C says...
ZZZZZZZzzzzzzzzz.........
Posted 10 January 2023, 12:03 a.m. Suggest removal
DWW says...
When a comment has zero substance it means there is nothing of value to say.
Posted 11 January 2023, 8:39 a.m. Suggest removal
ExposedU2C says...
I unapologetically leave it for you to add value to @birdie's comments.
Posted 11 January 2023, 3:10 p.m. Suggest removal
BONEFISH says...
The PLP and the FNM are now the same party. They are interchangeable.
Dr.Minnis promise a report on the situation which led to the previous BPL board being fired. It was never delivered.There was a report on the fire at the Clifton plant which was given to the FNM cabinet.It was never released to the public.
Now the PLP comes along with their forensic audit. Nothing will come of this audit. It will be simply used as political ammunition for the up coming election. Both parties are simply playing games with a largely gullible public.
Posted 10 January 2023, 8:05 a.m. Suggest removal
Flyingfish says...
Just how they started, as the same party. A 50 year old political roundabout. Can we ditch them now?
Posted 11 January 2023, 1:41 p.m. Suggest removal
hrysippus says...
King Alfred got famous for burning them cakes; And sears got fame for his hedging mistakes. The king's foolishness cost a dozen burnt buns, While incompetent Sears cost as all millions. A reputation for misspeaking is easily gained. And integrity lost is a career down the drain.
Posted 10 January 2023, 11:47 a.m. Suggest removal
ExposedU2C says...
Slow Mo, Do Nothing Sears lost his integrity and soul when he decided to reap great personal financial gain by selling out the interests of the Bahamian people and instead serving the interests of criminal thugs like Sebas Bastian and Craig Flowers. Sears, like corrupt roly-poly Davis, has for years now effectively been a business partner of Sebas Bastian.
Posted 11 January 2023, 3:27 p.m. Suggest removal
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