PM Briceño Responds After BTL Meeting, Protests

This morning in Belize City, reporters caught up with Prime Minister John Briceño, and naturally, there were questions waiting. That comes after BTL executives met with Cabinet last Tuesday in Belmopan, a meeting that has since sparked concern across several sectors. While the Prime Minister wasn’t eager to field an extended round of questions, reporters pressed on, asking about the outcome of Tuesday’s protest and the way forward. He also made it clear that BTL will not be taking on any of Speednet’s liabilities. Here’s how that exchange unfolded.

 

Prime Minister John Briceño

“I have always said, we live in a democratic country and anybody who believes they want to protest, it is their constitutional right to do so. And all I ask is to do it within the scope of the law.”

 

Reporter

“We have several sectors coming out against the proposed acquisition, NTUCB, NEAB, the other unions, the independent senators and the opposition. Will you still encourage the BTL Chairman to go through with this deal?”

 

Prime Minister John Briceño

“It is not a matter of me encouraging. As I said, we are allowing for the process to proceed. At the end of the day we have a duty not only to BTL but to social security as was pointed out to us presently, Social Security is having a rate of return on the equity, on the money it invested, about two percent and they believe that by consolidating the industry that will be able to increase to about nine percent. So, to ensure that social security and all of us that pay towards social security get back their investments.”

 

Reporter

“But you have publicly endorsed the deal.”

 

Prime Minister John Briceño

“No, I have not publicly endorsed the deal. I have said all along, let the process proceed and they came ot Cbainet. They spoke to us about two hours and a half and they answered all questions that the ministers had and they left to our satisfaction. But as a Cabinet we have said let the process continue and when the members of the Board of Directors meet they can make a decision, because they do have a fiduciary responsibility to BTL to do what they believe is in the best interest of BTL.”

 

Reporter

“So we are buying assets and liabilities?”

 

Prime Minister John Briceño

“From what we are told no liabilities. It is simply just cash flow you buy. It is that kind of business. I don’t want to continue in a discussion with you all. I have said what I said, because whatever I say then you try to misinterpret it.”