By Aaron Humes: The Opposition United Democratic Party (UDP) has taken a firm stand against the proposed acquisition of Speednet and various cable companies by Belize Telemedia Limited (BTL). While Tracy Panton, the Leader of the Opposition, refrained from outright condemning the potential formation of a telecom monopoly, she asserted that several non-negotiable conditions must be met before any deal is considered.
Panton outlined the UDP’s demands, emphasizing the need for transparency and public disclosure concerning the deal. “Let me be clear, the UDP is not anti-technology. The UDP is not anti-investment. We are, however, firmly opposed to secrecy. We do not support monopolies without proper consultation and consent. And we definitively oppose a government that attempts to operate with unilateral latitude, a posture that does not align with the government’s commitment to institute the gold standard for transparency, accountability, and good governance,” Panton stated.
Among the conditions she highlighted were: full disclosure of independent assessments justifying the acquisition, transparency regarding financing sources, binding consumer and worker protections, and a clear establishment of competition and merger control rules, including the decoupling of Public Utilities Commission (PUC) appointments from government influence.
The urgency for transparency stemmed from a lack of information shared with the public regarding the proposed deal. Panton criticized the insufficient details made available, stating, “We have not heard, the only insight that we have received, and I believe the media has received in terms of the quote unquote deal, was what was presented in a press release issued by the Waterloo Trust and the Ashcroft Alliance. We had no idea. We had no idea what the settlement would be, how much we [would] be investing. We don’t understand what were the assumptions that were part of coming up with this arrangement. We don’t know what the valuation assessment says. We have no information that informs the decision making. And so that is absolutely required.”
Addressing concerns about the possibility of taking to the streets in protest if their demands remain unmet, Panton did not shy away from the idea, expressing that public patience is running thin. “I can tell you, if I said today, we need to hit the streets, we will hit the streets, people are exhausted. It is the view of the United Democratic Party that the chairman is completely compromised. his hands along with the hands of the Prime Minister of this country were caught in the cookie jar. And it is not acceptable. We understand the board is going to be meeting shortly. We’re going to give it a week or so, but we will not stand by and allow business to proceed as usual. We are clear. We’re absolutely clear. We’re clear in our press release, and I believe I was absolutely clear today. We will do everything that is within our lawful power, our lawful ability to ensure that the government of this country and the Board of BTL and Social Security hears us loudly and clearly,” she asserted.
The post UDP lays down demands for BTL’s potential acquisition of Speednet appeared first on Belize News and Opinion on www.breakingbelizenews.com.
By Aaron Humes: The Opposition United Democratic Party (UDP) has taken a firm stand against the proposed acquisition of Speednet and various cable companies by Belize Telemedia Limited (BTL). While Tracy Panton, the Leader of the Opposition, refrained from outright condemning the potential formation of a telecom monopoly, she asserted that several non-negotiable conditions must
The post UDP lays down demands for BTL’s potential acquisition of Speednet appeared first on Belize News and Opinion on www.breakingbelizenews.com.
