G.O.B.’s Takeover of P.B.L. will Conclude in the Days Ahead
Prime Minister John Briceño
Included in the settlement, Belize Hotels Limited, the parent company of the Radisson Fort George Hotel, will build a new conference facility as part of an ongoing fifty-seven million dollar reconstruction project. As such, the company’s fiscal incentive which was placed on hold since 2022, will be approved by the Ministry of Investment. According to a release issued by the Government of Belize earlier today, it goes on to state, “government will pay less than half the total settlement sums up front, forty-five million U.S. dollars, while the balance will be paid over five years by way of Belize dollar Government Treasury notes carrying an average coupon of three point six-five percent”. While Prime Minister John Briceño moved for the bill to be read through, Collet Area Representative Patrick Faber rose on a point of order.
Prime Minister John Briceño
“Madame Speaker, in accordance with Standing Order 49, Section 1, I move that the bill be taken through all its stages forthwith.”
House Speaker
“Are you on a point of order?”
Patrick Faber
Patrick Faber, Area Representative, Collet
“Of course, Madame Speaker, we have to complain about the position of this bill being pushed through all three readings in one day. Madame Speaker, this is a big deal. This is a big issue.”
House Speaker
“Member for Collet, what’s the point of order?”
Patrick Faber
“My point of order, Madame Speaker, I am appealing to the Prime Minister, or the reason for me standing is to appeal to the Prime Minister not to ram this bill down the throats of the Belizean people. This morning, Madame Speaker, this morning, it was only this morning that we received, look at this document, and this is only one of three. How in the world are we to understand, Madame Speaker, what this deal is all about. So I appeal to the Prime Minister, Madame Speaker, not to proceed today. Give we two days, give we three days, give we wahn week and bring we back. This is absolutely ridiculous, Madame Speaker.”
The Office of the Prime Minister has indicated that the Board of Directors for Port of Belize Limited will include a representative from labor, as well as the business community. Following its debate today, the bill will move on to the upper house on Monday and government’s acquisition of the Port of Belize should be completed thereafter.
