Opposition Questions Government’s Transparency in BEL and Hydro Plant Deal
The Opposition is demanding answers from the Briceño Administration over its decision to buy Fortis Inc.’s 33.3% stake in Belize Electricity Limited (BEL) and its three hydropower plants on the Macal River.
Opposition Leader Tracy Taegar Panton said the deal, worth hundreds of millions of dollars, is being rushed without public disclosure.
The deal includes the Mollejon, Chalillo, and Vaca hydropower plants, which together supply over one-third of Belize’s electricity.
The Briceño Administration says the acquisition represents “sound economic policy” and plans to table a Bill in the House of Representatives on Friday to authorise the purchase.
The Opposition argues Belizeans still don’t know how the purchase will affect electricity costs or national debt.
“Where is the independent valuation that provides the cost-benefit analysis to justify this massive undertaking?” she asked in her official statement. “Where is the regulatory review that ensures due diligence has been observed?”
Panton said the government’s plan for a “special budgetary appropriation” simply means “more borrowing, more debt, and a heavier burden on the backs of hard-working Belizeans.”
Panton called for the immediate public release of all financial documents, asset valuations, and fiscal arrangements related to the acquisition.
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