Privatization of State Enterprises on the Horizon

Posted by Artaxerxes to the UWI Cave Hill Takes a Hit

Tracey Shuffler advises government to Hand Over

Tracey Shuffler advises government to Hand Over

Politicians from the BLP and DLP are guilty of implementing policies that seemingly benefit the electorate in the short term, but in actuality having long term benefits for the political party.

For example, the NHC housing policy has been exploited by both the electorate and political parties. These housing units should have been starter homes for individuals/families who are in the process for developing themselves. Tenants should have been limited to rent units for a specific time period, while encouraging them to build their own homes. Financial assistance should have been given to those low income workers to either build their homes or purchase the units. Hence, rentals should have been an on-going process, whereby when one tenant moves out, another one moves in. Instead, and more so for political reasons, tenants were encouraged to occupy the houses for several years or not to pay rent. In 2008, this administration transferred ownership of the units to those tenants who occupied them for over 20 years, free of cost.

Additionally, I was doing a bit of reading and realised, prior to the 1976 general elections, Errol Barrow reduced bus fares from a per stage basis to a standardized rate of 25¢ per destination. However, he went on to lose the elections to Tom Adams and the Barbados Labour Party. Many people think Barrow is beyond criticism, but if we want to have a serious discussion about the Transport Board, we must first examine what implications this election gimmick had on the Board’s operations and financial stability over the years.

From 1976 until now, both political parties refused to address the “over- subsidization” of the Transport Board. Rather than allowing passengers to pay according to distance, as was done prior to 1976, and at a time when wages were way lower than they are now, they continue to burden taxpayers by maintaining a standard bus fare, mainly for political reasons. Barbadians brag about being more economically developed than our neighbours, who have in existence a policy whereby bus fare is charged accordingly.

We are now confronted with the reality that operating the Transport Board in its current format is unsustainable, and are playing with the idea of privatization or charging the appropriate fares. However, there is great hesitation in doing so as yet, because the political environment is not conducive at this time for such action.

Essentially, the days of free tertiary level education have come to an end, and the government has made a bold move to partially “privatize” this aspect of the educational system. Full privatization will soon be with us, as it will also become unsustainable for government to continue sponsoring the economic costs for Barbadian students.

The time has come for us to demand that our politicians to cease their practice of inculcating a culture of mendicancy, mediocrity and complacency in the minds of our citizens.

44 comments

  • PLANTATION DEEDS FROM 1926TO 2014 MASSIVE FRAUD LANDTAX BILLS AND NO DEEDS, BARBADOS DLP/BLP MASSIVE PONZI FRAUD

    Hand over what ? to buy time , hand over from one crook to another ,
    Waste of time, Ship Sinking ,lets move the chairs around the deck..

    To Much Fraud , to many crooks hand in the pot , Planning and did build many buildings and roads for foreign exchange to their pockets , Now to replace Bajan student with other Nations Children,

    Like

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  • Plantation Deeds

    Where is your Idealism? Where is your hope for better tomorrow brother? Yes, we’re skeptical about those persons who occupies our highest offices because of their past practices, but we have to hope against hope brother. You have to ask yourself in complete honesty: does your logic and evidence supports your perpetual attitude of skepticism, as it relates to the entire body of government in Barbados? There ought to be some good among the bad apples, or else it doesn’t reflect reality sir.

    Like

  • Plantation Deeds

    Sir, you’re a sad case because you writes as though you have given up on the institution of government in Barbados. Listen! I often say this: we’re not conditioned neither are we determined, but we must determine for ourselves, whether we’re going to give into conditions or standup to them. And again: what goes in the human mind, has the power to change what we believe, how we think, and ultimately how we behave brother. Come on now, you’re an intelligent man!

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  • Such a process of privatization of State-owned enterprises should have started 2-3 years ago. Such a proactive move -if the constructive critics were listened to- would have put the government in a bargaining position of calling the shots and significantly influencing the price and the terms and conditions of the sale or divestment.

    One thing that can be said about the current Minister of Finance is that despite his intellectual weakness in the area of finance he was able to stand up and promote the need for divestment/privatization as exemplified in his proposals to divest some of the State’s interest in certain commercially-oriented enterprises such as the air and sea ports. But being a buffoon and a coward he was forced to back down and out of pure political survival had to kowtow to an ignoramus and misfit when it comes to financial matters.

    Here we have a government that is literally broke and would soon be forced to get rid of those enterprises as if it is engaging in a fire sale.
    One wonders what have become of those thousands of election posters marked “Say No to Privatization!”
    Thanks DLP for turning Barbados into a true black “PARO” state.

    Like

  • In January 2014, MoF Sinckler said that, by April, the future of 19 statutory corporations and their approximately 9,000 employees would be determined by government, through a process of mergers, private sector participation where feasible and complete closure of some corporations.
    On March 17, 2014 during the debate on the Appropriations Bill 2014-2015, Sinckler suggested that “unless there was significant reform to the way statutory corporations were run, they had the capacity to pull down the Barbados economy”. He also revealed that government was allocating $1B annually to these corporations to support their operations

    We have witnessed the closure of the BTA to form two entities…… the Barbados Tourism Management Inc. and the Barbados Tourism Product Authority.

    So far, the only mention made regarding the future of the 3 “vote catching” stated funded corporations, namely, the National Assistance Board, Urban Development Commission and Rural Development Commission, was by Steven Blackett on March 23, 2012, when he told the audience attending the “Housing the Elderly” conference, that NAB was to be renamed the
    “Commission of Elder Affairs”.

    NAB was once responsible for the Home Help Service, Black Rock Hostel, Golden Rock Senior Citizens Home, Vauxhall Senior Citizens Home, Clyde Gollop Homeless Shelter, Housing Welfare Program, and Assistance-in-Kind program. However, the previous BLP administration transferred the Housing Welfare Department from the National Assistance Board, to the Urban & Rural Development Commissions; the hostel had to be closed, and assistance-in-kind was abandoned.

    With operations being significantly reduced, the staff levels at NAB have increased, and some departments are over-staffed. For example, the accounts section consists of an Accountant and 5 clerical officers; there is also a secretary and 2 clerk typists, as well as an officer whose specific responsibility is to type and print reports [a job the clerk typist could do]. There is a senior clerk who has absolutely nothing to do; an officer who is responsible for the maintenance of the Board’s 3 vehicles, ML580, ML581 and ML582; and a human resources manager with an administrative officer.

    But we all know that this board will be over looked, because it has been used by both BLP and DLP to provide work, especially in the home care service, for their supporters.

    Like

  • Miller

    Thanks DLP turning Barbados into a true Paro state

    It is pass your bed time and your mind is beginning to play tricks on you brother. Now, is it reasonable to ask, are you on any kind of medication or illegal drugs that the BU community should know about because you’re beginning to sound more like Georgie Porgie. You have written with all the outpouring of an intellectual imbecile. And have the unmitigated gall to stand here with your obviously escapism and blamed the DLP for what has been set in motion by the Nincompoops of the BLP. Man I am goes bed because you’re getting on my last nerve and David don’t take kindly to me when I have reached my breaking point.

    Like

  • Dompey | September 17, 2014 at 10:16 PM |

    “And have the unmitigated gall to stand here with your obviously escapism and blamed the DLP for what has been set in motion by the Nincompoops of the BLP.”

    The DLP has been in office since January 2008, making it approximately 6 years and 8 months they held the reins of government.

    Please, be reasonable, don’t you think the DEMS had more than enough time to fix “what has been set in motion

    Like

  • Artax

    Roman was built in a day sir and given the nature of this economic crisis, it is going to take more than expected time to get things where they ought to be I believe. But we have to be optimistic sir and just because things aren’t running on your timeline, it does not mean they’re going to be addressed. I am sure most Americans felt the way the majority of Barbadians feel today during the Great Depression. The Great Depression of the 1930’s and 40’s took a full decade before most Americans during that period saw any meaningful changed. Now, I am not comparing the Economic-Melt -down of 2007- 2008, to the Great-Depression of the 1930’s-1940’s but some critics would probably argue the there are striking similiarities as well as polar differences.

    Like

  • Privatization is being forced on us because of our financial dilemma and not because of any philosophical mooring.A dangerous affair.

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  • Dompey | September 18, 2014 at 6:03 AM |

    “But we have to be optimistic sir and just because things aren’t running on your timeline, it does not mean they’re going to be addressed.”

    Are you serious?

    So far, the only things this administration have been addressing are, the implementation of policies that facilitates their self preservation, largess for the DLP family, and they remaining in government.

    To cover their failures, the DLP conveniently blamed the previous BLP administration and the recession. Even now some of their dedicated supporters agree that they [DLP] have exhausted those excuses.

    Like

  • @ Dompey | September 17, 2014 at 10:16 PM |
    “Man I am goes bed because you’re getting on my last nerve and David don’t take kindly to me when I have reached my breaking point..”

    After writing such a statement who do you think is more likely to be on some ‘kind of medication or illegal’ drug and whose ‘mind is beginning to play tricks on them’?
    Miller or Dopey the Donkey? I am sure Georgie Porgie has correctly identified the patient in greater need of further diagnosis.

    Like

  • Miller ammmmm.there is a letter of interest posted to u on the Tourism Concession blog .uh need to read it. amm.it real sweet

    Like

  • The only people still kicking the privitization bucket are the few measly mout blp diehards even the great statistician OSA along with his rival seem to have adapted a “closed mout” policy on the issue.i wonder why?

    Like

  • millertheanunnaki | September 17, 2014 at 9:39 PM |
    Such a process of privatization of State-owned enterprises should have started 2-3 years ago. Such a proactive move -if the constructive critics were listened to- would have put the government in a bargaining position of calling the shots and significantly influencing the price and the terms and conditions of the sale or divestment.

    Miller……..although it is now too late and they will have to take ‘shite money’ for their screwed up state enterprises, you are still giving good advice…lol

    AC…….HUSH..lol

    Like

  • Hey all u privitzation experts.how much would wunna forked up to buy the transport board (if) wunna were business owners.

    Like

  • Do any of you know that St. Vincent & the Grenadines have a solid waste tax that is attached to the water bill?

    Since February 2012 Vincentians began to pay $5.00 EC more for water and solid waste management services.

    Like

  • Grenada also has a tax applied on the light bill above a threshold to pay for garbage collection.

    Like

  • Off topic.

    This tabloid is now available in West Indian restaurants and supermarkets in Toronto. There is a section called Barbados Beat.

    http://caribbeangraphic.ca/wp-content/uploads/sites/8/publications/final/index.html

    Like

  • ac | September 18, 2014 at 10:51 AM |
    “Hey all u privitzation experts.how much would wunna forked up to buy the transport board (if) wunna were business owners.”

    If the PM, MoF or any DLP cabinet minister announces today that the government would be privatizing the Transport Board, you would waste no time in coming to BU to post contributions in support of the venture.

    Then you would make another “about turn” on those persons who supports your position of not privatizing, by being critical of them.

    Like

  • Couldn,t careless about st vincent or grenada policies.there shit stink worse than bubbadus..btw wuh happen to Mia since the great March ?

    Like

  • @ac

    You continue to be clueless to what is unfolding in Barbados. You have shown yourself to be garrulous aggressive and acutely politically partisan.

    On Thursday, 18 September 2014, Barbados Underground wrote:

    >

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  • David | September 18, 2014 at 12:50 PM |

    “@ac: You continue to be clueless to what is unfolding in Barbados. You have shown yourself to be garrulous aggressive and acutely politically partisan.”

    Spot on, David…… and as you would state, ignorance knows no bounds.

    Like

  • Government’s gross financing needs will total more than 30% of GDP in 2014 and 2015: Moody’s

    2014 GDP estimated at US$4.3 billion.

    Expects Barbados to start borrowing by Q4 2014 or Q1 2015.

    Barbados’ debt service costs currently among the highest of all sovereigns rated by Moody’s.

    Debt to GDP ratio will rise above 100%: Moody’s

    Ironically, Barbados’ payment to join CAF itself could put pressure on fiscal accounts.

    On 9 September, Corporación Andina de Fomento (CAF, Aa3 stable), the Development Bank of Latin America, announced that the Government of Barbados (B3 negative) had agreed to become a shareholder. The agreement, subject to ratification by Barbados’ parliament, will make Barbados eligible to borrow from the bank, a credit positive for Barbados that will broaden the government’s otherwise limited financing pool, Moody’s said in a September 15 credit outlook. Moody’s said:

    “Barbadian authorities continue to struggle with significant fiscal pressures and a stagnant economy, which have increased gross borrowing requirements and led to a heavy reliance on short-term debt that elevates refinancing risk. We estimate that the government’s gross financing needs will total more than 30% of GDP this year and next. We expect CAF loans to lower Barbados’ cost of funding and the loans’ longer tenors to reduce refinancing risk.

    “The agreement between CAF and Barbados mandates a lending cap of US$200 million (4.6% of our estimated 2014 GDP of US$4.3 billion), and we expect the country to pay roughly LIBOR plus 200 basis points for loans with a 10-year tenor, similar to the rates offered to CAF’s other 18 member states.

    “We expect that the vast majority of CAF loans to Barbados will be to the public sector, although CAF also makes loans to the private sector. The loans will be subject to CAF board approval and could be disbursed as soon as the country ratifies the agreement. We expect the ratification to take place within the next few months, allowing Barbados to start borrowing from CAF in the fourth quarter of this year or first quarter of next year.

    “Funding costs from CAF compare favorably with those that Barbados obtained on a recent US$225 million five-year amortizing syndicated loan, which originally carried a rate of LIBOR plus 700 basis points, and later rose to LIBOR plus 850 basis points. Significantly lower borrowing costs should help the authorities stem the rise in debt service costs, which are currently among the highest of all sovereigns in our rating universe. In addition, the availability of up to US$200 million of fresh financing could mitigate the government’s high rollover risk, which has been exacerbated by its increased reliance on domestic short-term borrowing, as shown in the exhibit.

    “However, prospective CAF membership and loans alone are not enough to address Barbados’ ongoing credit challenges. Real GDP continues to stagnate and the authorities are striving to reduce a fiscal deficit that totaled 12.4% of GDP in the fiscal year that ended 30 March 2014, and debt/GDP that will to rise above 100% in fiscal 2015.

    “Moreover, the extent to which public-sector projects in Barbados will meet CAF conditions for disbursement remains a question. It is unlikely that the authorities can use funds borrowed from the development bank to cover their most pressing budgetary needs because CAF typically lends for infrastructure development, while around two thirds of Barbados’ government expenditures are consumed by wages, transfers and subsidies.

    Furthermore, CAF funding could be tied to projects requiring partial financial guarantees, which might require additional spending by Barbados. In the context of Barbados’ considerable fiscal consolidation effort currently under way, the equity stake the government is purchasing in CAF (as per the agreement, Barbados will make two annual payments totaling US$50 million, or 1.1% of projected 2014 GDP) could also negatively pressure fiscal accounts

    Like

  • Me clueless again….next election we shall see.

    Like

  • The police may shortly be charging a number of persons, ( if they are not suitably connected ) who are involved in a a fraudulent car purchase scam. This scam was operated by persons employed in a car agency and a finance company.
    From what I can see, this car scam is no different from the two scams ,where the taxpayers of this country were fleeced by the Barbados Water Authority, “illegal ” water connection to the upscale community of Mango Bay ,where the residents went for ten years without paying a water bill. Some persons from the Barbados Water plus the owners and/residents of this community should be similarly charged for fraud.
    So too are persons from the Barbados Water Authority and the owners of the Ionics plans who were involved in the “Big Cash for not a drop of water supplied “, scam

    Like

  • “Rather than allowing passengers to pay according to distance, as was done prior to 1976, and at a time when wages were way lower than they are now, they continue to burden taxpayers by maintaining a standard bus fare, mainly for political reasons.”

    It is cross-subisdisation at work though Artax. The Bridgetown to Pie Corner passengers subsidising the Black Rock ones.

    Like

  • Wunna does waste too much time on ac.
    The plan to allow PSV to operate from the bus terminal is an expansion of the already semi-privatised public transportation. What ac does not understand is that government can and does control public goods, even if not the provider, through POLICY. Public transportation is a perfect example–PSVs can only charge $2.00!!

    Like

  • overseasbajanyankee

    @David and Art

    why don’t you too leave ac alone/

    Like

  • i remember as if it was yesterday i got my a.ss cut black and blue by the rambunctious blp yardfowls who was preaching the same crap and plagiarizing the same meddlesome stories,, and David the ring master keeping score card,,now six years later the same repeat performance with a few added on misfits,,so the blp right now running scared,,the tourism receipts are up,, good things are happening for barbados and once again they have decide to reopen and rehash the same ole tired political propaganda that cause them to lose the last election,,,heeheee ..when will they learn…to stop pooching back…

    Like

  • SOME ONE IN BARBADOS JUST SENT ME THIS INFORMATION—LOL

    Employee Notice:

    Due to the current financial situation caused by the slowdown in the economy, the Government has decided to implement a scheme to put workers of 60 years of age and above on early, mandatory retirement, thus creating jobs and reducing unemployment.

    This scheme will be known as RAPE (Retire Aged People Early).

    Persons selected to be RAPED can apply to the Government to be considered for the SHAFT program (Special Help After Forced Termination).

    Persons who have been RAPED and SHAFTED will be reviewed under the SCREW program (System Covering Retired-Early Workers).

    A person may be RAPED once, SHAFTED twice and SCREWED as many times as the Government deems appropriate.

    Persons who have been RAPED could get AIDS (Additional Income for Dependents & Spouse) or HERPES (Half Earnings for Retired Personnel Early Severance).

    Obviously persons who have AIDS or HERPES will not be SHAFTED or SCREWED any further by the Government.

    Persons who are not RAPED and are staying on will receive as much SHIT (Special High Intensity Training) as possible. The Government has always prided themselves on the amount ofSHIT they give our citizens.

    Should you feel that you do not receive enough SHIT, please bring this to the attention of your Local MP who has been trained to give you all the SHIT you can handle.

    Sincerely,

    The Committee for Economic Value of Individual Lives (EVIL).

    PS: – Due to recent budget cuts and the rising cost of electricity, gas and oil, as well as current market conditions, The Light at the End of the Tunnel has been turned OFF.

    Like

  • @overseasbajanyankee

    BU has been at this blogging thing too long to waste time with any commenter who are so blindly partisan that they believe they are not…lol.

    Like

  • i glad heee heee,ac still wearing the crown…while the blp yardfowls and leadership still fighting among themselves on how to get the crown hence this over drawn overblown rag me tag has been done that before and heard it before article,,the fact is govts must take steps to save an economy and anything less than that is hostility

    Like

  • GP

    That piece is genius – obviously written by a person who got his/her UWI degree in creative writing.

    If it were not so serious for 13% of the work force, it would hilarious.

    Like

  • Now that Dennis and them, Johnny, Joe and the rest got all that could be had from public transport we are supposed to accept as fact that standardized fare led to this board’s destruction. Things booming at National Housing and the QEH…not true? As was mentioned in an earlier post this administration saw privatization as the way to go. Consensus said something else and the about turn was made. Were it not for the blatant corruption in which the Owen Arthur administration was steeped, Barbadians would have held the feet of this government to the fire when they attempted to run away from the privatization debate. Not realizing that we had traded Mark Young for Barry Jack we chose not to impose the ignominy of one term, hence the second look at privatization. Hindsight they say is 20/20 but something tells me that may change to 29/1. Either way we are screwed.

    Like

  • PLANTATION DEEDS FROM 1926TO 2014 MASSIVE FRAUD LANDTAX BILLS AND NO DEEDS, BARBADOS DLP/BLP MASSIVE PONZI FRAUD

    Politicians from the BLP and DLP are guilty of implementing policies that seemingly benefit the electorate in the short term, but in actuality having long term benefits for the political party.

    For example, the NHC housing policy has been exploited by both the electorate and political parties. @@@

    You all need to go back and read what we posted about NHC< UDC< dealing with land and records .

    Well you all better look to see all things dealing the with the land and Violet Beckles,
    Massive fraud by the BLP then DLP and now with the DBLP with voter fraud,
    Keep play withe snakes and soon will be bitten to Death,
    PLANTATION DEEDS still talking no one listens , Till all falls down , I think i hear Noah calling now, Its about to rain.,

    Like

  • overseasbajanyankee

    @David
    prodical and miller are very partisan and I can remember you according them the same status,

    Like

  • @Overseasbajan

    Believe it or not they are times when they have had to back off a BLP position.

    Like

  • PLANTATION DEEDS FROM 1926TO 2014 MASSIVE FRAUD LANDTAX BILLS AND NO DEEDS, BARBADOS DLP/BLP MASSIVE PONZI FRAUD

    Dompey | September 17, 2014 at 8:14 PM |

    Plantation Deeds

    Where is your Idealism? Where is your hope for better tomorrow brother?@

    Dompey@ My idealism is rooted in the Truth of the Matter called Barbados, If you please study the roots of why and how we got here, Its as we say man-made for greed , Its can be fixed as noted by the white people who looked at it ad reported to the Bajan Public.

    Brother ,a better tomorrow can not come with cover up, to spit in the soup and hope it get cleaned before drinking, ? Not to brush your teeth or take a bath and hope you get cleaned to smell better.
    You have to get water and soap even in you mouth with paste and start to clean , Tool needed as this Level of crime with and have to be by way of the VOTE.
    At all Levels of Barbados government there is crime for greed .Pick any part of any land in Barbados and seek to find a CLEAR TITLE.
    We see in Barbados Today on line the old bold head lady with old beat up house with a Minister talking her papers in order and dealing with NHC.
    Understanding the Level of this NHC With Samantha Cummings there for years making deals and moving land to people and big business ,

    The way Bajans trained to live to believe that TAXES and only taxes is a way of life that we must bend over and take it, When the BLP and DLP take turn building housing for VOTE tight before Elections then remove the tax base on property so called taxes for the government can not and will not tax them self and the Ministers pay no taxes either it seems .
    So as each election time comes most of the land moves to the government and non to the people .This government can not make no one pay taxes with out a CLEAR TITLE., Please STUDY CLEAR TITLE AND SEE WHAT YOU CAN AND CAN NOT DO WITH OUT IT, THEN STUDY HOW BARBADOS GOT AROUND IT WITH FRAUD AND USE OF THE OFFICE OF AG acting as a bajan CROWN to take with out payment to the owner,
    Let just try at 1997 with UDC and VAT, where is all that money?
    Check the off shore accounts of past PMs AG , CJ and COP along with QC judges all the way down the pimp title holder line.
    We will need a new DPP working with the Audit General and a New Head at Inland Rev, to see the crimes , Then the Archives and land Registry restored to per in 1966. Massive Fraud,
    UWI with crooks ass Sir Beckles needs to do for its waste of money to no even pay over priced education to learn LIES,
    VOTE BETTER GET BETTER , GET THE TRUTH AND VOTE BASE ON TRUE AND NOT LIES, STUDY THE LAND AND NOT LIES SPOKEN ,

    Like

  • overseasbajanyankee | September 18, 2014 at 6:00 PM |

    “@David and Art: why don’t you too leave ac alone/”

    All the 5 or 6 AC’s does, is write nuff, nuff shiite.

    I have no problem with an individual supporting a political party of their choice, however, I believe if they want to be taken seriously and gain some credibility, they should be rational and consistent in their views.

    I noticed that you seem to be sympathetic towards the DLP, and that’s your choice. We must all agree that no man is perfect, and as such, I’m not going to be so naive to believe EVERYTHING those 60 BLP & DLP politicians say or do is always CORRECT.

    Like

  • @ David (BU):

    Have you heard that Ryan Straughn has again called on the current administration to swallow its pride and enter into an IMF-supervised structural adjustment programme?

    One of the outcomes of such a programme would be the divestment of some State-owned and run enterprises.
    The opportunity currently exists for Barbados to keep its currency parity if a bit of proactivity is displayed. But this window of opportunity is fast disappearing.
    Further delay in an environment of continuing fiscal deterioration and no economic growth would only lead not only to an ‘imposed’ exercise of divestment of a fire-sale nature but could put greater pressure on the currency peg forcing it to lower trading level vis-à-vis the US$.

    The present administration must stop digging its head further in the sand of denial, wake up, smell the economic coffee and remove the veil of denial from its broken face.

    What are they waiting for? To reach another point of changing horses in a Hobson’s choice manner? Haven’t they learned anything from the UWI tuition fees debacle or the Transport Board fiasco? Why put off the inevitable that can only lead to more pain and set back the process of economic recovery?

    Like

  • @Miller

    Yes, at what cost is the current policy sustainable?

    We are booking high cost loans, there is low confidence in the country, a garrulous state exist between stakeholders.

    No economic indicator is daring to point North.

    Even Dwight Venner has the gumption to opine the economic decision making in Barbados.

    Tracey Shuffler who no one has accused of being political biase is. NOT onside with government. She made all the points we have made in the rum shop, at the top of the list, international reserves are being shored up by borrowing.

    Like

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