The Barbados Labour Party (BLP) has issued the following statement on the sale of the Barbados National Terminal Company Ltd (BNTCL):
It is our understanding that the Fair Trading Commission has made its decision on the sale of the Barbados National Terminal Co Ltd (BNTCL)
The sale of that entity, like the imminent sale of the Barbados Hilton, constitutes the gasping for air on the part of a dying administration.
At best the sale of these entities may equate to about two to three weeks foreign exchange reserves cover. Though this will give a little elbow room for the Minister of Finance, it will not remove the problems we face.
The reality of Barbados’ fiscal position is dire and is not going to be adequately transformed by this administration’s desperation by selling off our most valuable family silver.
We need to have long ago implemented a serious regime of financial discipline and to have stood by it.
At this late stage, beyond a regime of financial discipline, Barbados also now desperately needs an opportunity for all of us as stakeholders to have a chance to say whether we have confidence in the several failed attempts by the Minister of Finance to turn the financial situation around.
Equally, and by extension, the country also needs the opportunity for a breath of assurance that can only come from virtue of an electoral exercise at the national level, and the reposing of fresh confidence in a new administration.
Shadow Minister of Industry, Commerce & International Business