Wednesday, April 10, 2024
By KEILE CAMPBELL
kcampbell@tribunemedia.net
FREE National Movement leader Michael Pintard wants the Davis administration to release the PwC report outlining what the Grand Bahama Port Authority (GBPA) owes the government.
He said this could clarify why the administration is demanding $357m. The administration’s demand letter requires the GBPA to pay the money within 30 days or enter arbitration proceedings.
Mr Pintard said he does not buy Prime Minister Philip “Brave” Davis’ claim that he has had many meetings with GBPA officials to rectify the conflict between the parties.
He said while his party has several criticisms of the GBPA, he disapproves of how the Davis administration is handling the matter because a public row for several years runs “a very serious risk of undermining investors’ confidence.”
He said the matter has degenerated into finger-pointing and blame-shifting, which does not benefit Grand Bahama.
“Shareholders, they can be fine,” he said. “Government officials, they can be fine. It’s the people, those who live in Grand Bahama and represent those people, they are already experiencing a tough climate and it could get worse given these more recent developments.”
“We believe that in the past, both the Grand Bahama Port Authority and the government have, in a sense, scapegoated each other in order to avoid accepting responsibility for things that they have both been unable to accomplish.”
Mr Pintard argued that if the government succeeded in “wrestling away” the GBPA from the present shareholders, the responsibility to operate the authority should neither go to the government nor friends of people in the government.
“Whether it’s related to power provision, whether it’s related to water, the utility company, whether it’s related to the sanitation, it’s a number of companies there, but people should be able to complete,” he said. “The prime minister should not seek to put into the atmosphere rhetoric or bullying tactics to direct any sale to any particular group.”
Mr Pintard noted that the GPBA earns revenue through service charges, which are reinvested infrastructure, and licenses.
“The government is looking to get an asset that has a lot of regulatory functions as well as a limited amount of assets, and the taxpayer, the same people in Grand Bahama who we represent, will then be on the hook to pay for all of the services, the basket of services and liabilities,” he said.
“And we understand that there’s a fair amount of liability that the GBPA is also holding that the public is going to be on the hook for those particular liabilities.”
He said that he does not believe Grand Bahama residents want the government to take over the regulatory functions on the island and that decisions will be politicized, causing the island to operate at a reduced pace.
“The reality is the government will be on the hook for all of the obligations surrounding Freeport, whether it’s the maintenance and upgrade of the infrastructural development and, in fact, I believe that we ought to work with the government collaboratively to make sure that no resident is in the balance, but all other costs associated with the regulatory environment, the government, the taxpayer is going to be responsible for that,” he said.
Comments
Dawes says...
No company is going to pay $357 million just because they were asked for it. This is going to arbitration and then maybe further. Hopefully further as we will then be able to see what the $357 million is made up of. If it turns out that the amount is no where near this then it seems to be a pure shakedown to get rid of the current owners of GBPA. And if that's the case it sets a very worrisome mark in how companies coming here will view The Bahamas. Hope we are able to do with less FDI as the message will have been sent
Posted 10 April 2024, 9:44 a.m. Suggest removal
The_Oracle says...
No doubt the Government will want closed arbitration hearings, which given the public interest and licensee interest (80%Bahamian) would be wrong. Nor do many in the government or the many talk shows on the subject seem to know the technicalities of the subject.
How Freeport got to where it is matters, and is essential to finding a way forward.
Posted 10 April 2024, 10:48 a.m. Suggest removal
TalRussell says...
Must be a requirement that these hereto outstanding $357 millions by the GBPA, has a **Cash Surety Bond** of the equal amount be posted as a condition before contesting. --- Good Day!
Posted 10 April 2024, 11:38 a.m. Suggest removal
BMW says...
Tal you watch to much fox news.
Posted 10 April 2024, 1 p.m. Suggest removal
TalRussell says...
@ComradeBMW, ..... can you believe that Freeport's Burger King actually employs double more workers than does the entire GBPA. --- Same goes for just one of my nephews as a Freeport licensee. --- Yes?
Posted 10 April 2024, 1:32 p.m. Suggest removal
The_Oracle says...
I think successive elected governments should pay a cash Bond surety to cover the increased depth of the fiscal hole they dig while in office! Lord knows they spend like crazy and fix nothing while in office.
Posted 10 April 2024, 1:20 p.m. Suggest removal
TalRussell says...
@ComradeThe-Oracle, but they're useful when it comes to maintaining Freeport's roads. --- Yes?
Posted 10 April 2024, 1:53 p.m. Suggest removal
The_Oracle says...
Who Government? Government does not maintain any roads in Freeport including the one road they do own, Queens Highway. The port paid to repave that also.
However you've made my point, ignorance of the H.C.A. and how government administrations are equally at fault if not entirely at fault is our downfall. Past administrations have gotten what they wanted in various ways, but this admin is a wrecking ball swinging wildly wrecking Bahamians future.
Posted 10 April 2024, 3:22 p.m. Suggest removal
ThisIsOurs says...
This whole saga is one big nothing. The govt is quite aware nothing will come of it. What they needed was a boogeyman to distract from their abysmal failure to move Freeport forward. Use the boogeyman to rile up supporters to make them believe the govt fighting for them and fire them up to get them to the poles for election. Thats all this is. I dont even believe they expected this to make news, if they did, they would have made it news by making some statement at a press conference (taking the GBPA to court "or else" is big news) as opposed to delivering the message to a small private group
Posted 10 April 2024, 5:48 p.m. Suggest removal
TalRussell says...
“We, the Government of the Bahamas, will have to take into consideration as to whether or not it is prepared to continue to permit the Grand Bahama Port Authority to remain in foreign hands, as opposed to national and Bahamian hands.”.---- Attributed, without modification, as being words spoken during HOA debate by the then Premiership of Hubert "Papa" Ingraham. --- Good Day!
Posted 10 April 2024, 6:47 p.m. Suggest removal
ThisIsOurs says...
Ah 20 years ago? .... a big nothing
Posted 11 April 2024, 12:01 a.m. Suggest removal
sheeprunner12 says...
So, where is this PWC report??
The New Day PLP have been using these phony documents, police investigations and court cases to handcuff any Opposition to their selfish initiatives.
It just seems like something with this GBPA demand letter is underhanded ........ So show us the PWC report.
Posted 10 April 2024, 9:58 p.m. Suggest removal
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