BIM says Sinckler’s words border on being contemptuous

The Barbados Integrity Movement (BIM) says it has taken note of Minister of Finance Chris Sinckler’s statement in which he accused the local Fair Trading Commission (FTC) of stalling a deal on the sale of the Barbados National Terminal Company Ltd. (BNTCL) – which is owned by Barbados National Oil Co. Ltd. (BNOCL) – to the Sol Group.

“While we must listen with great intent to the words uttered by such a senior member of the DLP administration, we must be ever concerned when such words border on being contemptuous where minister Sinckler has stated that he is now tired of awaiting the decision of the FTC on the sale of the country’s only national oil terminal storage and distribution facility the BNTCL,” BIM’s Political Leader Neil Holder said.

“We must remain ever cognizant that the DLP administration of which Minister Sinckler holds the post of Finance Minister had entered into a disingenuous arrangement to sell the BNTCL at a pittance of US$100 Million to the single potential purchaser the SOL Group Limited which is domiciled and headquartered in St Lucia with information reaching us that such domicile has now been changed to the Cayman Islands.”

The BIM Political Leader noted that this DLP administration, under the financial leadership of Minister Sinckler, has caused Barbados “the indignity of 20 consecutive downgrades” to the point of being totally unattractive to frugal international investors.

He said that of particular concern also is the fact that Minister Sinckler was made aware since 2009 that Barbados was not on the World Bank’s list of places to do business and to date has still not been placed on such list while countries such as Grenada and St Lucia enjoy the benefit of such international exposure.

“We are asking the FTC not to make any determination for the BNTCL to be sold unless such sale includes the National Credit Union Movement as representative of the masses and the other petroleum supplier RUBIS,” Holder said.

10 Responses to BIM says Sinckler’s words border on being contemptuous

  1. Claire Battershield
    Claire Battershield November 11, 2017 at 4:59 pm

    It is Fair Trading not Fear Trading

  2. luther thorne November 11, 2017 at 5:02 pm

    BIM !
    I am confused .
    Is this the same as Grenville Phillips’ party.
    There are so many fragments, too many fragments. This is not good. When this happens people dismiss the fragments and choose between the main parties BLP and DLP. A good solid third party is definitely needed.

  3. Saga Boy November 11, 2017 at 7:31 pm

    Has anybody done due deligence on this Neil Holder? Is he fit to lead us by example?

  4. Ali Baba
    Ali Baba November 11, 2017 at 8:02 pm


  5. Zeewai November 11, 2017 at 8:07 pm

    I like the sound of this

  6. Greengiant November 11, 2017 at 10:40 pm

    Neil Holder is not fit to lead anything. We need aa many alternatives as possible, not just a third party. We will do well with a coalition of MP’s from various parties, but please not Neil Holder.

    Does anyone really still associate with this man in business, furthermore politics now? He can bring any action against me, I will tell all, and with evidence to support it.

  7. Sheron Inniss November 12, 2017 at 6:51 am

    I don’t have time to listen. I too busy. Observing the antics of the monkey population is a better pastime.

  8. Winston November 12, 2017 at 1:58 pm

    I hope that the minister is not trying to tie the hands of the FTC. He wants quick decisions and the Government workers waiting 8 years for a wage increase at the hand of a ministry that is getting down grades upon down grades

  9. Solutions Barbados November 13, 2017 at 9:44 am

    Barbados needs to dismantle monopolies, not create more of them. The petroleum industry needs to be fully liberalized, not further monopolized. There is no reason why Government should be in the business of ordering, paying for with it’s own US dollars, and storing fuel, then selling it to all petroleum users in Barbados in this day and age. Sol, Rubis, and other petroleum dealers should be ordering their own fuel with their own US dollars, and storing it in their own facilities. So should BL&P, the Cement factory and any other large scale user of fuel. Their needs to be real competition in energy in this country. Government can continue to regulate fuel prices, but not control supply. Neither should any single entity control supply and storage of energy in this country.

  10. F.A.Rudder November 13, 2017 at 12:17 pm

    A new breed of young intellects have now graduated out of our Polytechnic institute who are trained in business practices and not political propaganda and greed!! I would wish for these graduates to continued advancement in their technical fields of business. Business organisation and strategy had been lacking for some time.


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