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 […]
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 […]
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 […]
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 […]
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 […]
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. […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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. […]
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 […]
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 […]
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, […]
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 […]
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 […]
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 […]
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. […]
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 […]
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 […]
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 […]
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 […]
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 […]
