Why Nationalization Due to Accommodation Agreement was Drastic

John Briceño

The People’s United Party has gone on record as describing the nationalization of Belize Telemedia Limited and subsequent settlement with former owners as, in one statement, “the greatest con of the century.” That’s because the company’s value is about one hundred million dollars versus the final settlement figure of more than five times that amount. But could there have been a different way? Should the Accommodation Agreement signed by the former Prime Minister and former Attorney General while they were in office been challenged in court, on such points as tax breaks and the role of the Public Utilities Commission? Here is current party leader John Briceño’s answer.

John Briceño, P.U.P. Leader

“With this issue, it is something that could have been challenged. It is something that could have been challenged.”

Reporter

“Based on its unlawfulness?”

John Briceño

“Based on whether the Prime Minister had that authority to sign off on that and those agreements, without the knowledge and consent of those two departments.”