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PM: Acquisition of BTL Worth It

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The acquisition of Belize Telemedia Limited has cost the Government and by extension taxpayers, hundreds of millions of dollars. But the PM says that it was all worth it.

Rt.Hon.Dean Barrow, Prime Minister

“When you look at the whole thing in the round what we have paid, which is what the tribunal found we were supposed to have paid we were supposed to pay, much less than what the alliance was hoping for is, in any case, I insist absolutely worth it in terms of our long-term eternal ownership of BTL. A BTL that will take telecoms in this country to higher heights and that will make bucks for government and people. Remember that with the accommodation agreement if it had been kept in place the Ashcroft projection was for BTL to make $1.3 billion dollars in profits over the life of that accommodation agreement. So you can holler till the cows come home nobody will convince me that ultimately this is not a good thing for the Belizean people.”

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