Posted: Thursday, October 16, 2025. 4:38 pm CST.
By Breaking Belize News Staff: Today, Leader of the Opposition Tracy Panton issued a statement calling for transparency on BEL and hydro plant acquisitions.
“The United Democratic Party Parliamentarian Caucus expresses serious concern over the Government’s announcement that it intends to acquire Fortis Inc.’s 33.3% shareholding in Belize Electricity Limited (BEL), along with the three hydroelectric plants on the Macal River,” Panton said.
But Panton questioned, “why the rush to finalize such a multi-million-dollar transaction without full disclosure to the Belizean people?”
“Where is the independent valuation that provides the cost-benefit analysis to justify this massive undertaking?
Where is the regulatory review that ensures due diligence has been observed?
And where is the exit plan for the so-called “secondary domestic offering”; or, will this become yet another opportunity for politically connected insiders to benefit from a public acquisition?,” the statement questioned.
Panton says that the Belizean people deserve to know whether this deal will actually result in lower electricity costs for consumers and more affordable energy inputs for the productive sector.
Panton says that this means “more debt and this comes when:
“Primary healthcare remains underfunded,
Educational institutions are under-resourced,
Citizens face escalating costs of living,
Public safety is in crisis, and
Our national sovereignty faces growing threats,” the statement said.
The Opposition further called for “the immediate public release of all financial documents, asset valuations, and fiscal arrangements related to this acquisition.”
Panton says that when the Prime Minister brings this matter before the House of Representatives, “we expect transparency, not theatrics; accountability, not another get-rich scheme for the politically privileged few.”
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The post Opposition calls for transparency on BEL and Hydro plant acquisitions appeared first on Belize News and Opinion on www.breakingbelizenews.com.
Posted: Thursday, October 16, 2025. 4:38 pm CST. By Breaking Belize News Staff: Today, Leader of the Opposition Tracy Panton issued a statement calling for transparency
The post Opposition calls for transparency on BEL and Hydro plant acquisitions appeared first on Belize News and Opinion on www.breakingbelizenews.com.
