The Tribune

By KHRISNA VIRGIL

Tribune Staff Reporter

kvirgil@tribunemedia.net

PLP chairman Bradley Roberts said he sees nothing wrong with his recent appointment as director of the Bahamas Telecommunications Corporation’s board.

Admitting yesterday that the move was likely to draw some attention, Mr Roberts said his only concern is to represent the Bahamian people, an interest that the government has taken to heart.

Despite his claims, political pundits have already criticised the Christie administration for the choice, calling it “typical of the PLP”.

Mr Roberts said as the board’s director he will not be involved in the ongoing negotiations between BTC’s parent company Cable and Wireless and government representatives, who are attempting to take back the majority stake of in the company.

The PLP announced during the run-up to the general election that if victorious, it would work tirelessly to re-negotiate CWCs 51 per cent stake in BTC.

“I am sure some people’s eye brows will be raised,” Mr Roberts said, “and if some of them were sleeping, they will surely wake up now.

“But people need not speculate wildly, I am simply here to represent the Bahamian people. The government has a right to appoint whomever they’d like to ensure that the policies, procedures and goals of the board are carried out.

“As the director, I will play no part on the BTC majority share take back. The government has a board appointed and headed by Frankie Wilson to deal with that.”

Mr Roberts was also appointed chairman of the Water and Sewage Corporation following the PLP’s return to office.

In August, credit rating agency Moody’s blasted the PLP’s plans to regain majority control of BTC as “negative” for the nation’s sovereign credit rating, and slammed the government’s “erratic” policy approach as undermining the investment climate.

Edward Al Hussainy, a Moody’s assistant vice-president and analyst, said the government would have to find “scarce funds” to purchase the two per cent it requires for 51 per cent majority control, and cover penalty and potential litigation costs, at a point when its finances are “deteriorating.”

Mr Al Hussainy added that the Christie administration’s BTC policy could also harm liberalisation of the wider Bahamian communications industry, and shows the climate for foreign investment in the Bahamas had “deteriorated.”

Referring to the government’s announcement of its four-person committee to negotiate at least a partial reversal of the 2011 BTC privatisation, Mr Al Hussainy and Moody’s said: “The move is credit negative for the sovereign as it raises fundamental concerns about policy predictability and could damage the country’s investment climate.”