Faber Criticizes Secretive BEL Acquisition Plan

Opposition Senator Patrick Faber is criticizing the Government of Belize over its plan to purchase Fortis Belize and its shares in Belize Electricity Limited. Faber says the Briceño administration has not been transparent about the agreement made with Fortis principals.

 

Patrick Faber, Opposition Senator

“We were in a slightly better position to debate the bill on Monday in the Senate. However, the mere fact that they are asking us again to do all of this evaluation, to study and to support the bill, again passing through the Senate, all in one sitting, is unconscionable and has to suggest that the government is yet again trying to pull a fast one, pushing very important big money deals down the throats of the Belizean people in order to get their own way.  Instead of simply buying back BEL shares, the government went further. They decided to purchase Fortis Belize Ltd., the company owning the three hydroelectric dams, and we must point out that they did not have to do this. They decided that they wanted to do this. And this came, my friends, at a very hefty price tag, a hundred and ten million US dollars is what they will pay. And I noh know if dehn done pay or dehn noh pay yet because if you notice, when they circulated the documents, members of the media, I don’t know how much you saw but there was one version of the document that said “executed” and the prime minister had already signed that agreement in the documents that we received.”