Who Really Owns the National Bus Company?

The National Bus Company is gaining control of public assets and key routes along the Southern and Western corridors, but questions remain about who stands to benefit. Government owns forty-five percent of the company, private investors hold forty percent and reports suggest some private shares are changing hands. Despite the company’s recent attempt to put its finances and operations on display, Mesopotamia Area Representative Lee Mark Chang says the ownership picture remains unclear. He took that question directly to the House: who really owns the National Bus Company?

 

Lee Mark Chang, Area Representative, Mesopotamia

“Are we modernizing the entire transport industry or are we using public money, public assets, public concessions and exclusive rights to build one powerful company, Madam Speaker. That da weh they forget to say Madam Speaker. Because before this house approve this bill, there are some basic questions that must be answered. Who owns NBC? You know madam Speaker, I have asked this question probably a couple times already. He can say what he wants to say. Who owns NBC?” How was it valued? How will independent operators compete. What is tax payers total exposure? What happens if NBC fails. Madam Speaker, Belize has travelled down this road before. The name was Novelo Bus Company, NBC. And that history should teach us something.”

 

Dr. Louis Zabaneh, Minister of Transport

“All of that competition that was going on among the eighteen. Now they are partners. Now they are cooperating. We are not promoting division. We are promoting cooperation, coming together and they have come together. So those are the facts. The facts are the facts. And now that they are together, owing forty percent of the company. By the way, which was made public from the twenty-second of February. It’s not like the ministry has been hiding as being suggested, this information.”

 

Government owns forty-five percent of the National Bus Company, private investors control forty percent, and the remaining fifteen percent could go to the Social Security Board.

 

Attention readers: This online newscast is a direct transcript of our evening television broadcast. When speakers use Kriol, we have carefully rendered their words using a standard spelling system.

 

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