Symmonds wants details of BNTCL deal

MP for St James Central, Kerrie Symmonds has called for full disclosure on the sale of the Barbados National Terminal Company Ltd. (BNTCL).

On Wednesday the Barbados National Oil Company Ltd. (BNOCL) confirmed it had signed an agreement with the SOL Group for the sale of the shares of its subsidiary, BNTCL.

But Symmonds told a news conference hosted by the Barbados Labour Party this morning that the sale to a lone company would create an unwanted monopoly, which would not be in the best interest of the public.

“The opposition would want to say, that the deliberate policy of exclusivity in the financial sector is the last thing that Barbados needs right now. It would create an inability in the long term for us to control pricing and for us to protect the impact on consumers,” said the Shadow Minister for Industry, Commerce and International Business.

“The critical point here, is that the level of exclusivity that government is seeking to bring by way of a sale of the Barbados Nation Terminal Company Ltd is in our view not in the best interest of the people and it is also a question that gives rise to the procedure that is being followed by government,” he added.

Kerrie Symmonds

Symmonds also called for government to reveal the details of the sale of the state-owned oil company.

“We are now demanding to have a full public disclosure on the names of those entities or that entity which is a bidder for the Barbados National Terminal Company Ltd. and we also wish to have disclosure on the proposed price of the sale of the Barbados National Terminal Company.

“We would want for the government to reveal the structure of the deal that they are entering into, in the name of the people of Barbados with respect to the sale of the Barbados National Terminal Company Ltd and we would like to know whether the board of the Barbados National Oil Company has approved that sale.”

Symmonds insisted that the information be presented in a report before parliament, as a matter of public record.

18 Responses to Symmonds wants details of BNTCL deal

  1. Greengiant January 14, 2017 at 9:48 pm

    Not saying the details of the sale should not be made public, but the B L P didn’t come to the public when they were returning the telecommunication lines back to C and W a number of years ago when the agreement had expired. Ronald and Owen fell out with the former being removed from the cabinet over the disagreement.

    They all do the same, one pair of spectacles in opposition and a different pair in government. That’s the lawyers for you, I guess if they have to win the government now they would enter a structural adjustment program with the IMF and blame the current administration for the move.

    Reply
    • hcalndre January 15, 2017 at 7:12 pm

      Greengiant, this is the taxpayers money, even the money that pays these politicians salary so A.B.C or D makes no difference, the pubic should be informed, its not their goat or sheep that they are selling.

      Reply
  2. Peter January 14, 2017 at 11:53 pm

    It seem to me that there are concerns over the transparency of this negotiation. I know Sir Kyffin to be an upright, clever and sincere businessman who has been successful in his endeavours. I say wh should clear up those concerns and move on. If there is nothing to hide, then there is nothing to worry about.

    Reply
  3. The Negrocrat January 15, 2017 at 12:14 am

    Upright, clever and sincere businessman who has been successful in his endeavours?

    Reply
  4. jrsmith January 15, 2017 at 6:07 am

    Hail, Hail to (Mr,Symmonds , to the government let the people of Barbados see the deal, publish the details ..
    If the government dont want to show the details , the company purchasing from the people of barbados , the (SOL Group ) can be forced through the courts to do so , but the people of barbados would have to find the right people to petition the court………this stinks …
    What is more frightening ,idiots with guns in barbados or our government…………………………………………..

    Reply
  5. harry turnover January 15, 2017 at 7:31 am

    Isn’t Sir Kyffin a long time supporter of the DEMS. Heard Tom Adams talking his name years back on a platform near Halls road.

    Reply
  6. Harry January 15, 2017 at 7:39 am

    EWB saved his bacon many years ago and Kyffin never forgot it.

    Reply
  7. Alex Alleyne January 15, 2017 at 7:44 am

    Just as bad as selling the Bank.

    Reply
  8. Rawle Spooner
    Rawle Spooner January 15, 2017 at 8:56 am

    Ok he playing politricks because his party never was accountable or transparent to citizens but I got to agree the details about any deals involving taxpayer property or money should be made public regardless of which political party is governing period.

    Reply
  9. Peter January 15, 2017 at 10:04 am

    Negrocrat. Prove to us otherwise. Harry turnover. democracy is about FREEDOM OF CHOICE ask Carson C Cadogan. I openly challenge You and or ANYONE else to prove to Barbados when, where and how did Sir Kyffin did anything underhand or deceitful in this country. You are exhibiting your jealousy and envy through your small talk.

    Reply
    • hcalndre January 15, 2017 at 7:24 pm

      Peter, in barbados its difficult to prove many things although the proof is there, the justice system is the problem where they would have to prove what is said is not true.

      Reply
  10. Nathaniel Samuels January 15, 2017 at 10:33 am

    Even as a supporter of the BLP as a result of the inadequate performance of the DLP, I really hope that the BLP, if it becomes the Government, will then be upfront with the people in all its dealings.

    Reply
  11. Michel Smith January 15, 2017 at 3:13 pm

    The BLP started selling out Bim–yes the Bank and then beg T&T not to change the name. More than 50% of our politicans in the last 20 years have become millionaires–how did they do it? The point by MP Simmons is well taken–full disclosure is important to the share holders if you are selling their shares.

    Monopolies are not in the best interest of the nation economically, from a micro and macro perspective. If the BLP wins the government this year, I hope they follow such policies.

    Reply
  12. s January 16, 2017 at 6:29 am

    Mr. Symmonds why don’t you tell the people the truth and stop fear mongering?

    Reply
  13. Samantha Best? January 16, 2017 at 10:14 am

    What were the conditions of sale for the BDB and the BNB?

    Reply
  14. jrsmith January 16, 2017 at 10:30 am

    As I always say , Barbados is there for the taking but, not by bajans…..

    Reply
  15. harry turnover January 16, 2017 at 7:40 pm

    @Peter…I said the man is a long time supporter of the DEMS …how does that connect with DEMOCRACY and freedom of choice ?…ya got me bamboozle here.
    I NEVER said that Sir Kyffin did anything underhand…BUT the onus is on YOU since YOU brought up the subject to prove otherwise so I too openly challenge You and or ANYONE else to prove to Barbados when, where and how did Sir Kyffin DID NOT do anything underhand or deceitful in this country.

    Reply
  16. haskellm46@hotmail.com January 16, 2017 at 8:10 pm

    Kerrie,

    When your BLP government sold off the Barbados Natioal Bank
    did you publish the details of the deal? The answer is NO. Don’t cry now

    Reply

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