Making Sense of the Port of Belize Buy-Back
The House of Representatives met in the final session for 2023 on Thursday. During the sitting, a number of bills were tabled and passed, including the Port Acquisition and Settlement Deeds Bill. We led our newscast with this story yesterday and today we’ll take a closer look at government’s intention to purchase the Port of Belize Limited, as well as settle all outstanding awards with Lord Michael Ashcroft and his various companies. We begin tonight with a look at the prime minister’s presentation, as well as the opposition leader’s response, to the newly introduced bill and what it means for the nationalization of P.B.L.
Prime Minister John Briceño
Prime Minister John Briceño
“With the approval of the Cabinet and with the support of this honorable house, the Government of Belize will reacquire, for the people of Belize, the commercial port of Belize City.”
The Port of Belize Ltd. has been in receivership since January 2012, when businessman Luke Espat defaulted on his multimillion dollar loans with the banks. The history of the company, however, has been long and interesting. During that time, we’ve covered everything from industrial action by frustrated waterfront workers, to delays in loading and unloading container ships in the harbor.
Prime Minister John Briceño
“We have seen the workers, especially the stevedores, calling, sometimes crying out for fairness. We have seen an employer who, many times, has not budged and a government that was unable to do anything for merchants, for workers, for consumers, for exporters because the port was not ours.”
The Port of Belize Ltd. is being returned to the people of Belize after twelve years of being in the hands of a receiver. As part of a settlement agreement with the Ashcroft Group, the Briceño administration will pay a considerable sum for the acquisition of the facility, as well as six hundred acres of adjoining land.
Prime Minister John Briceño
“The sums of money owed to the same owners of this port, due to various court issued awards, are growing everyday. The awards hang like swords under which we work. We make certain payments with the risk that such payments or assets could be seized. We pay large sums of money, millions, that could be used in other ways to cover the fees of topnotch lawyers to ward off a sudden grab by the Ashcroft consortium of assets and funds that we need.”
To resolve these issues, the Government of Belize will fork over ninety-eight point seven million U.S. dollars in separate payments. The lion’s share goes towards the purchase of the port, while a smaller portion, fifteen point three million U.S. dollars covers the resolution of the awards. To hear the prime minister tell it, GOB is getting the best deal possible, notwithstanding the circumstances.
Prime Minister John Briceño
“The acquisition and the discounted price are not accidental, not a roll of the dice that broke in Belize’s favor. The acquisition and the discounted price are the products of the posture of a government that has resisted intimidation, that has refused to overpay, that has insisted that government, for the people, must secure value for money.”
But the opposition is not impressed. In fact, during the house meeting on Thursday, Prime Minister John Briceño was criticized for the manner in which he convincingly spoke of the port buy-back.
Shyne Barrow
Shyne Barrow, Leader of the Opposition
“The honorable Prime Minister, always comes into this house and makes these aspersions about who is rapping for their supper. Well you di perform fi yoh supper right now, a terrible performance, not Oscar-worthy at all. I don’t know to clap, to boo, or to walk out, but I had to stay and listen to the manure that you were spewing. Madame Speaker, this government is not settling this matter because they love the stevedores. I don‘t believe so. I was there, six months ago when I brought questions to ministers, to that member from Toledo West, to plead with him to enforce the tribunal‘s decision, their and the stevedores. Labor constituted tribunal to resolve the labor dispute with PBL.”
Today, the Essential Services Arbitration Tribunal formally dismissed the application of the Christian Workers Union, the representative body for the stevedores. On behalf of the waterfront workers, the CWU was seeking clarification of the earlier award granted by the tribunal, as well as to make stronger language and directives, including setting timelines for compliance. But back to the takeover. Once nationalized, the Port of Belize Ltd. will come under new management and its board of directors will include representatives from labor, as well as the business community.
Shyne Barrow
“You have to listen to a very, very, very operative word or sentence that was used which is the new management. Who da di new management? I support the acquisition, the opposition supports the acquisition, but we do not support any privatized management of the port. We will not go backwards. Our Belizean public officers are competent and qualified and they can manage that port. This will not be another pension plan for the boys with your cronies in private enterprise taking it over.”
Isani Cayetano for News Five.
