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Since it was tabled in the House of Representatives and read through in its entirety on August sixteenth, the passage of the National Liquefied Petroleum Gas Project Bill has raised serious concerns. Skeptics, including the opposition and the Belize Business Bureau, believe that the new legislation paves the way for a monopoly company to control […]
Written on September 4, 2019 | Posted in
Economy |
Comments Off on Will National Gas Create Another Monopoly Over LPG Market?
According to Canton, while the price of wholesale L.P.G. will be regulated, the Bureau of Standards will be responsible for ensuring that the cost of butane at the retail level remains affordable. Isani Cayetano “So at the depot, all the players are going to be purchasing LPG at the same wholesale cost, however, if […]
Written on September 4, 2019 | Posted in
Economy |
Comments Off on Bureau of Standards Will Have to Regulate Butane Prices at Retail Level
The inception of a national gas company, a public/private partnership involving the government, began with Belize Natural Energy Limited several years ago, under the stewardship of Doctor Gilbert Canton. At the height of oil production, gases that were emitted as by-products of the extraction process were only being flared. That was until the company decided […]
Written on September 3, 2019 | Posted in
Economy |
Comments Off on How National Gas Company Came About
According to Canton, a complete study of the cost of acquisition of liquid petroleum gases from the U.S. Gulf Coast was subsequently conducted and through that exercise, they realized that by trucking L.P.G. overland from Guatemala, prices would be affected. Dr. Gilbert Canton, Managing Director, NGLC “So we started mapping the index price of […]
Written on September 3, 2019 | Posted in
Economy,
Environment |
Comments Off on The Idea to Build an LPG Depot in Big Creek
The idea of a public/private partnership with the Government of Belize is based on similar models employed elsewhere in the region. In this case, G.O.B. will have a twenty-five percent stake in the National Gas Company, as well as a seat on the board of directors. The agreement, following the introduction and passage of the […]
Written on September 3, 2019 | Posted in
Economy |
Comments Off on A Public/Private Partnership for Local LPG Industry
In July of last year, an agreement was signed with the Barrow administration formalizing the partnership and shareholders were sought thereafter. Those investors include Michael Bowen, President of Bowen and Bowen Ltd., Marion Usher and B.W.T. Holdings, an international concern with significant investments in Valley of Peace Farms Ltd., Cayo Grains and TexMar Shrimp Farms. […]
Written on September 3, 2019 | Posted in
Economy |
Comments Off on How Investors Were Chosen for NGCL
Effective at midnight, the price of premium gasoline will be going up by nineteen cents per gallon. Consumers will be paying eleven dollars and thirty-one cents per gallon when they go to the pumps beginning this Wednesday. Regular gasoline remains at the same price retailing at ten dollars and twelve cents per gallon while diesel […]
Written on September 3, 2019 | Posted in
Economy |
Comments Off on Premium prices up by nineteen cents
Last Friday, the Senate passed a bill paving the way for the new National Gas Company which is made up of a partnership between the government and a group of Belizean businesses. There is ongoing debate and a lot of questions about the new company which is to succeed the Mexican group in supplying butane […]
Written on September 2, 2019 | Posted in
Economy |
Comments Off on Bowen and Bowen says prices lower costs can lead to lower prices in butane
The Liquefied Petroleum Gas Project Bill was today debated in the Senate. The Government and the National Gas Company have entered into an agreement which the Prime Minister has labelled as public/private partnership for the establishment, operation, and transfer of a liquefied petroleum gas terminal and facilities for the proper rationalization of cost, supply and […]
Written on August 30, 2019 | Posted in
Economy |
Comments Off on Senators Express Concerns over Liquefied Petroleum Gas Project Bill
Today the Senate approved three loan motions totalling one hundred and forty eight million Belize dollars. The government borrowed fifty million U.S. dollars from the Taiwanese Government for the upgrading of the Corozal-Sarteneja Road and the construction of the Pueblo Nuevo and Laguna Seca bridges. The loan agreement comes after the Taiwanese Government offered financial […]
Written on August 30, 2019 | Posted in
Economy,
Environment |
Comments Off on Sarteneja Road Loan Motion Sparks Heated Debate in Senate
The Senate also approved a fourteen million U.S. dollar loan from the Inter-American Development Bank. This chunk of money has been earmarked for the strengthening tax administration project. Monies will be used to boost the efficiencies of the Belize Tax Service, a newly formed government department comprising of the Income Tax and G.S.T. departments. The […]
Written on August 30, 2019 | Posted in
Economy |
Comments Off on A US$14 Million Dollars Loan for Strengthening Tax Administration Project
There has been a decline in the level of production between April to June of this year in comparison to the same period last year. According to the Statistical Institute of Belize, goods and services dipped by five million dollars primarily in the agricultural sector. S.I.B. also released data showing a slight decrease in the […]
Written on August 28, 2019 | Posted in
Economy |
Comments Off on Economy Declines Marginally in 2nd Quarter of 2019
A House Committee met in Belmopan today. A small crowd gathered to protest the write-off of a debt owed to the government by Joshua Perdomo, the son of the Cabinet Secretary, Carlos Perdomo. The loan was granted to Joshua years ago to undertake a Masters Degree in Forensic Genetics at the University of North Texas. […]
Written on August 27, 2019 | Posted in
Economy,
Featured |
Comments Off on Caribbean Shores rep votes against loan write-off to the son of the Cabinet Secretary
Having sailed through the House at its sitting on August sixteenth, the bill for the proposed National Gas Company goes before the Senate this coming Friday. The new company will be the supplier of butane gas to households across the country taking over from current Mexican suppliers. The company will be granted a fifteen year […]
Written on August 27, 2019 | Posted in
Economy |
Comments Off on Business Senator weighs in on National Gas Company.
Deputy Prime Minister Patrick Faber says that government’s decision to write-off a forty thousand dollars loan issued to Joshua Perdomo, son of Cabinet Secretary, is unfortunate. Prime Minister Dean Barrow who is also the Minister of Finance tabled the motion on Friday last during the Sitting of the House of Representatives. As we have been […]
Written on August 23, 2019 | Posted in
Economy,
Education,
Featured |
Comments Off on GOB’s Decision to Write-Off Joshua Perdomo’s 40K Grant is Unfortunate, Says Patrick Faber
The passage of a new piece of legislation which paves the way for the formation of the National Gas Company, via a public/private partnership to regularize the liquid petroleum gas industry, is being met with skepticism and concern in certain corners of the business community. Earlier today, the Belize Business Bureau, a productive sector organization, […]
Written on August 20, 2019 | Posted in
Economy,
Featured |
Comments Off on Business Bureau Chides National Gas Company as Worst Idea this Decade
At midnight on Tuesday August twentieth, the pump prices of regular gasoline and diesel will see a decrease. The prices for regular gasoline will decrease by forty three cents from ten dollars and fifty five cents to ten dollars and twelve cents. Diesel will dip a mere four cents and will sell at ten dollars and […]
Written on August 19, 2019 | Posted in
Economy,
Featured |
Comments Off on Prices for Diesel and Regular Gasoline Take a Dip
Bamboo grows just about everywhere in Belize. There are several varieties in the country, but what many people don’t know is that the bamboo is hailed as a super plant and it is one of the world’s most renewable materials. It is used to make furniture, toilet paper, utensils, décor, and even textiles. There’s one […]
Written on August 15, 2019 | Posted in
Economy,
Miscellaneous,
People & Places |
Comments Off on Mark Jacobs – Making a Difference with Bamboo Straws
The first ever Innovate Belize 2019 Summit was held at the Biltmore Plaza in Belize City. The focus of the summit is to foster opportunity by creating a platform where individuals can come together, collaborate and discuss current innovative trends. Technology has a huge influence on how we live and work and the session was […]
Written on August 15, 2019 | Posted in
Economy,
Miscellaneous,
People & Places |
Comments Off on Innovate Belize 2019 Summit
The second annual general meeting to be held by the Social Security Board since 1981 was convened today at the Best Western Biltmore Plaza in Belize City. Dubbed S.S.B. Connect, it’s used as a platform to engage stakeholders and contributors on how the Social Security Fund is operating. As you know, Cabinet approved an S.S.B. […]
Written on August 13, 2019 | Posted in
Economy,
Featured |
Comments Off on The Second Annual S.S.B. AGM
Now the increased contribution is not sitting well with many workers. Doctor Colin Young says that they ought not to look at social security as taxes such as GST and income tax because the payment benefits the contributor at various instances in their lifespan, including sickness and maternity benefits, as well as retirement pension. But […]
Written on August 13, 2019 | Posted in
Economy,
Featured |
Comments Off on Will G.O.B. Take on Non-Contributory Pensions?
The Social Security Board is also going digital allowing persons to readily access information by the touch of their fingertip. Doctor Colin Young says that the board is looking to increase efficiency and improve the services offered to contributors. Dr. Colin Young, C.E.O., S.S.B. “As a part of the contribution reform, you are paying […]
Written on August 13, 2019 | Posted in
Economy,
Featured |
Comments Off on S.S.B. Going Digital
For the umpteenth time, consumers are being hit in their pockets with fuel increases. Premium gasoline will increase by as much as forty-nine cents going from ten dollars and sixty-three cents to eleven dollars and twelve cents per gallon. At midnight, the price of kerosene will also go down slightly by eight cents, from seven […]
Written on August 5, 2019 | Posted in
Economy |
Comments Off on Fuel Prices Increase Again
This morning at the Charles Bartlett Hyde Building, government officially launched the Belize Tax Service. The amalgamated department aims to provide optimal services where GST and income tax are concerned. The new management team will work on the redesign of the department according to existing good practices and standards for tax administration and the delivery […]
Written on August 2, 2019 | Posted in
Economy,
Featured,
People & Places |
Comments Off on Belize Tax Service is Here
An audit of Belize Telemedia Limited to determine whether it owes anything in taxes to the GST Department is underway and nearing completion. Financial Secretary Joseph Waight is on record confirming that a review of the company’s financials is being conducted. Whether the telecoms company is in arrears or up to date on its GST […]
Written on August 2, 2019 | Posted in
Economy,
Miscellaneous,
People & Places |
Comments Off on Joe Waight Confirms Audit of B.T.L.’s GST Payments
