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PUP leader comments on Net Vasquez fiasco

Over the weekend the PUP Party Leader John Briceno commented on the investigation being done into the allegations against Nestor Vasquez. Briceno stated that he does not believe that a thorough investigation will be conducted and if it is done it has to dig deeper than just credit card statements. 

Over the weekend the PUP Party Leader John Briceno commented on the investigation being done into the allegations against Nestor Vasquez. Briceno stated that he does not believe that a thorough investigation will be conducted and if it is done it has to dig deeper than just credit card statements.  Briceno went even further in his statement on the telecommunications company, saying that the company is on the verge of bankruptcy.

Hon. John Briceno, Opposition Leader, People’s United Party: “In 2016 when he agreed to pay $557 million dollars for this company, a company that in 2010 he said he got a British company accounting firm or valuation firm to value BTL and said it was worth a little over $100 million dollars just for him to then say in 2016 in trying to sell the dream of BTL and how valuable it is of paying the $557 million dollars to say that by 2030 BTL would be earning one billion dollars. In 2018 when he was already seeing that profits were not going up they were going down he then said that by 2025 BTL was going to already be making $1.2 million dollars. In 2010 when he  was selling the shares to Social Security on behalf of all of us – and we pay Social Security- asked them to buy $50 million dollars worth of shares and said that that is going to be valued a $100 million dollars  shortly just to find out now that the last financials of BTL showed that they only made $19 million dollars and the new one that they have not presented yet which they should have presented from about June we’re hearing is only about $10 million dollars. BTL is on the verge of being bankrupt and it is only being held up by us the tax payers. BTL has become a white elephant, an expensive white elephant where certain people within close to the Prime Minister and the UDP government has benefited whilst the rest of us have not and then to add salt to injury you rightly pointed out when he would go to the house and then say “Well we knew that the company was not valued five hundred it was only valued about two hundred million dollars.” what’s wrong with this man? I mean how dare he will announce that and in effect said you know you Belizean people were fools to believe me and today BTL, the most expensive white elephant that we have is on the verge of bankruptcy. The new PUP government will have to go in there and try to do everything possible to rescue that company and to be able to ensure that the abuses that happened under Dean Barrow and the UDP will never ever happen.”

Briceno says that if the PUP is elected into government they will hire an auditor to do a thorough audit for the entire term between the UDP and BTL.  Vasquez has since resigned as Chairman of BTL and on Friday the past Governor of the Central Bank of Belize Alan Slusher was named as the interim Chairman.