By Zoila Palma: The Belize Chamber of Commerce and Industry (BCCI) issued a statement today saying that it welcomes the announcement by the Minister of Public Utilities in the House of Representatives calling for a pause on the proposed acquisition of Speednet/SMART by Belize Telemedia Limited (BTL).
“The Minister emphasized the need for transparency, public engagement, and proper regulatory oversight by the Public Utilities Commission (PUC).
The Chamber maintains that significant legislative and regulatory questions must be addressed before any consolidation can proceed—particularly given Belize currently lacks modern competition and merger control laws. The BCCI urges the PUC to advocate for, and the GOB to effect, all necessary legislative amendments to safeguard the integrity of the decision-making process,” the BCCI explained.
The BCCI also reiterated that the valuation methodology and financial implications of the proposed transaction—especially where public funds and the Social Security Board’s exposure are involved—require independent verification and full public scrutiny.
“This matter extends beyond a commercial transaction. It carries serious implications for businesses, consumers, service reliability, pricing structures, and overall confidence in the regulatory framework governing Belize’s telecommunications sector. The regulator must act to ensure both the spirit and the letter of the law are upheld,” the chamber said.
The BCCI says that it stands ready to engage constructively in any genuine public consultation led by the PUC in the national interest.
The post Belize Chamber of Commerce and Industry welcomes call for regulatory pause on proposed Speednet/ Smart acquisition appeared first on Belize News and Opinion on www.breakingbelizenews.com.
By Zoila Palma: The Belize Chamber of Commerce and Industry (BCCI) issued a statement today saying that it welcomes the announcement by the Minister of Public Utilities in the House of Representatives calling for a pause on the proposed acquisition of Speednet/SMART by Belize Telemedia Limited (BTL). “The Minister emphasized the need for transparency, public
The post Belize Chamber of Commerce and Industry welcomes call for regulatory pause on proposed Speednet/ Smart acquisition appeared first on Belize News and Opinion on www.breakingbelizenews.com.
