Belize Business Bureau Urges PUC Oversight in BTL Merger

While the Belize Business Bureau is backing BTL’s proposed takeover of Speednet, it says that support comes with conditions. Beyond profits and sustainability, the Bureau is now turning its focus to consumer protection, calling for stronger regulation to ensure prices remain fair if the merger goes through. We pick up that conversation with the Bureau’s president, who says the Public Utilities Commission must play a central role in what happens next.

 

Arturo Lizarraga, President, Belize Business Bureau

“At the surface, the proposal looks very good for the shareholders, and that’s the reason we said yes. But that doesn’t mean that it’s a wholehearted yes. One of the fairs that we have as consumers, as businesses is that we don’t want the monopoly now to just return us to the VoIP here where the price keeps going up because they have control. So we’re saying that we need the government to address how they’re gonna regulate this industry. Like the PUC has done with BEL, water and butane. People are upset about the monopoly. I didn’t hear the Chamber when the butane monopoly was formed, and that’s on poor people’s back. The data is one thing, but cooking food is a different thing. And because the big boys are in there and that’s a private monopoly. It’s not a public monopoly. It’s privately owned and privately controlled, but there was no old cry at that time. So they flip flop on what they’re saying. I’m saying let’s not be prejudiced in terms of our judgment. Let’s try to look at it in an analytic way and arrive at a conclusion. There is some there is some benefit. And value to Senator Dennison from the Union. In one, he was referring to PUC, but in truth, we truth be told, that’s a PUC decision. It’s not a union decision. It’s not a business bureau decision. It’s not a Chamber decision. It’s not even a government or BTL decision. BTL has to rely on what the PUC decides. So you have to give PUC the time to make a decision. PUC took the while to bring out a  study or a call for opinions that has been done. Right now, they’re in a phase where they have to make a decision as to what is this? Are they gonna agree? So people feel that it’s the public opinion that will decide. No, a lot of this rests on the experts at POC to find out whether this deal should proceed. But the issue does not stop there. We’re saying that even if they say, let’s go ahead, there is a need, not for an SI, but more extensive supporting legislation to guide the control of the price.”

And while the Belize Business Bureau is backing the BTL–Speednet deal, its president says that support comes with a clear warning, strong oversight from the Public Utilities Commission is essential to keep prices in check and protect consumers if the merger moves ahead.