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External articles (7)

Bahamians ‘have first rights’ on all outsourcing opportunities at the Bahamas Telecommunications Company

Dino Rolle, the Bahamas Communications and Public Officers Union’s (BCPOU) president, is urging the prime minister “to ensure Bahamians ‘have first rights’ on all outsourcing opportunities at the Bahamas Telecommunications Company (BTC) if downsizing continues. (…) Mr. Rolle said he made his requests at the side of yesterday’s meeting between the prime minister and multiple trade union leaders, as he warned that the BCPOU will ‘not sit on our hands for ever’ if its grievances are not resolved.”

Source: www.tribune242.com

Six PPP contracts came under heavy fire from the Minnis administration

The government has unveiled its framework for ‘public-private partnerships,’ which contains a number of safeguards for the public interest. “This came after six PPP contracts entered into by the former government came under heavy fire from the Minnis administration, which inherited them upon being elected to office on May 10.” Deputy Prime Minister K.P. Turnquest said “we have created a streamlined process that is fair and transparent with essentially only three stages: Project Identification and Screening; Business Case Analysis; PPP Procurement. The oversight and management structure has four reasonable tiers: Sector level/project specific management teams; overall PPP operational unit at the Ministry of Finance; oversight bodies responsible for all approvals in the PPP steering committee and Cabinet. This creates the needed checks and balances for responsibly managing public money, and protects the return on investment for the Bahamian people.” But these safeguards did not satisfy elements of the corporate community, who are complaining that it is “overly bureaucratic” and arguing that “opening up projects to bids from international companies and investors was ‘detrimental’ to the needs of small and medium-sized (SMEs) Bahamian enterprises.”

Bahamas passes budget for transforming financial services sector

The government of the Bahamas has voted to allocate additional resources to facilitate the transformation of the financial services sector with the specific aim of improving the ease of doing business in the Caribbean jurisdiction. The 2018-19 fiscal budget was passed by the House of Assembly on 18 June. In his contribution to the budget …

Source: International Investment

The government has concluded a build-lease to purchase ‘public private partnership’ deal for the construction of a set of office buildings

The government has concluded a build-lease to purchase ‘public private partnership’ deal for the construction of a set of office buildings, which will be financed by private capital then paid for by the government through a 10-year leasing arrangement. “Details of the deal struck by the Christie administration with PPP Investments & Construction Company are disclosed in the latter`s $25 million bond offering, as it seeks to raise the necessary financing from private investors to complete the construction project.”

Source: www.tribune242.com

Government's future privatization plans

The Deputy Prime Minister and Minister of Finance, K. Peter Turnquest, meets with representatives of the Bahamas Central Securities Depository (BCSD) and the Bahamas International Securities Exchange (BISX). BISX CEO Keith Davies said after the meeting, that BISX can assist the government “particularly with the listing and trading of government securities and the government's future privatization plans.”

Source: BISX | Bahamas International Securities Exchange

The Minnis administration says it will privatize the Produce Exchange

The Minnis administration says it will privatize the Produce Exchange as part of an effort to boost links between agriculture and tourism. “Tax incentives and concessions will be introduced to encourage Bahamian farmers and farming cooperatives throughout the country to promote sustained production and packaging initiatives and to ensure the continuous supply of quality products.”

Source: www.thebahamasweekly.com

A coalition has been formed to defend against privatization

A coalition has been formed to defend against privatization. “The position taken by Mr. Miller, as the Water & Sewerage Corporation’s chairman, appears to have pushed Mr. Demeritte’s group and the [Water & Sewerage Management Union (WSMU)] to join forces and lobby for a new approach to outsourcing/privatizing Bahamian utilities and natural resources.”

Source: www.tribune242.com