Following the adjournment of the Sitting of the House of Representatives on Friday, Cordel Hyde, PUP Area Representative for Lake Independence, addressed the matter of the monopoly on Boledo. The contract is currently held by Brads, and Hyde says that since it is soon up for renewal, the government should take it back into its hands.
Cordel Hyde Deputy Leader of Opposition: “I wanted to put the government on notice that they really need to do the right thing here. They really need to rescind that contract.
Madam Speaker: Excuse me Member are you anticipating or?
Cordel Hyde Deputy Leader of Opposition: “No no none at all, they really need to rescind this contract and they really shouldn’t have to wait until people demonstrate over it because it is only when people demonstrate they act and do the right thing. The only problem I can recall is that Government was complaining that they are only getting a $1,000,000 in taxes form the sale of Boledo, $500,000 lets say, so they say okay we are going to give Mr. Brads and his friends the goose that lay the golden egg just so that he can pay them $2,000,000 in taxes but as I understand it from very knowledgeable people Brad’s and friends are raking in somewhere between $22,000,000 and $30,000,000 a year in profits. Now let’s check that out for a minute Madam Speaker, if they are making $30,000,000 over the last 9 years, you are talking about $270,000,000, let’s say it’s not $30,000,000 let’say it $20,000,000 a year, over a 9 year period we are talking about $180,000,000 but let’s say it’s not. Let’s say it’s $10,000,000 a year they would have gotten $90,000,000 over the last 9 years. Who forgoes that kind of money, which Government forgoes that kind of money? Which Government? But you are saying to us that you cannot administer Boledo, that you are incompetent, that you can’t run Boledo why else are you outsourcing Boledo to Brad’s and friends?”
Honorable Dean Barrow: “The members arguments would have been far more compelling if he had been able to furnish us with substantiated data. You can’t just pull figures out of the air and then say well he is making $30,000,000, if its not 30 it’s 20 or lets say its 10. We need the facts and the bottom line is that when the Boledo was privatized the Government was making a grand total of $500,000 a year and right there was a period when even that revenue stream dropped and the privatization was not entered into until after we had set up a Committee to examine the issue chaired at the time by Godwin Hulse and that was the person that Chaired the Committee that in fact examine the issue and made the recommendations as to privatization.”