When the government (National Insurance Scheme) sold a significant chunk of its shareholding in Barbados Light & Power (BL&P) BU disagreed. When Barbados National Bank (BNB) was sold to Republic Bank we disagreed. When Barbados Shipping & Trading (BS&T) was sold for 30 pieces of silver by the White elite seeking to secure their golden parachute, we disagreed.
BL&P (EMERA) is the sole electricity utility provider in Barbados, a strategic asset. One of the largest inputs in the cost of production in Barbados is electricity. The capacity to fund projects by creating financial products and vehicles in the national interest can only be done by an entity if the decision making is influenced by indigenous thought. ALL the commercial banks in Barbados are foreign owned. Barbados has a significant food import bill and to compound the issue, food distribution and retail previously controlled by Barbados Shipping & Trading (BS&T) was ceded to Port of Spain based Massy.
Three main ‘arteries’ of the Barbados economy, power, food, financial are effectively controlled and choked by foreign interest.
When the government announced a few months ago it was in the process of preparing a prospectus for the sale of the Barbados National Terminal Company Limited (BNTCL), we disagreed. We believe government must maintain a strategic interest in key areas of the economy. The feeble explanation given by Minister of Finance that, “the Terminal operations were previously only up to a few years ago operated by the private sector in that part of the energy sector. So this is not anything that is new… we will do it to invigorate private enterprise in Barbados”, must be disappointing to nationalistic Barbadians – a country heavily vested in educating its citizens. The fact that it is a contradiction of the Democratic Labour Party (DLP) anti privatization campaign message in the last general election campaign will be the subject of another blog.
The BNTCL is a 100% subsidiary of Barbados National Oil Company Limited (BNOSL). According to the website BNTCL manages the importation and supply of gasoline, diesel and fuel oil. It also provides storage for the local crude oil to facilitate shipping to Trinidad. In an exclusive interview with the online newspaper Barbados Today minister of finance hinted that other national treasures (what are left) are on the radar for government divestment – see The way of the IMF, or not.
If government’s divestiture program was a coherent strategy to invigorate private enterprise government would have a good case. But the BNTCL is part of a profitable state enterprise. How come we are dumping an operation that is profitable and keeping those heavily subsidized by government? What is the point! And there is a good chance private ownership will not be by individual Barbadians and small businesses but the one big player who has the foreign dollars. Some of us will not be fooled by a token allocation to ordinary Barbadians in the BNTCL prospectus.
The policy approach by government is heavily influenced by the reality it has no money. Yes sensible Barbadians agree we need to rationalize the running of state enterprises. But at the centre of what we do must be to nurture and protect what defines Barbados and Barbadians. Nationalism is about the mindset of a people which compels them to tirelessly defend their interests and identity. What is currently unfolding in Barbados is a country rapidly ceding who we are as a people to others. The social implications will become more evident to the undiscerning in the years to come.
History is always a good teacher. Ordinary Barbadians must be made to understand that there will never be a good reason for those in control of power and influence to promote change. Both major political parties in Barbados are political animals dangling on the strings of the Puppeteer – those with deep pockets and entrenched vested interest in maintaining the status quo. History is replete with examples of the rise of movements whose leadership was able to stoke national sentiment to reassert the right of the people, the ONLY owners of the state in times like now. We are Barbadians, we cannot allow a hapless group of politicians, and the mendicants who surround them, to destroy our nationhood.
We loyal sons and daughters all
Do hereby make it known
These fields and hills beyond recall
Are now our very own
We write our names on history’s page
With expectations great
Strict guardians of our heritage
Firm craftsmen of our fate
The blogmaster invites you to join the discussion.