The Tribune

EDITOR, The Tribune.

There are not many Bahamians who are going to agree with the recently announced rate hikes in their electrical bills. The economy is gradually bouncing back post the effects of Dorian and the lingering pandemic. With the increased internationally based fuel costs and the drastic cuts in the supply chain, across the board, many nations, inclusive of The Bahamas, inflation is literally 'killing' The Bahamas.

Prices on goods and services have gone through the roof and there appears to be no end in sight. It is clear to right thinking Bahamians that it is not the fault of the Davis administration that this phenomenon is being played out even as you read this. The price hikes, while minimal, will appear to be 'bad' optics politically. The PM and his administration have no control or input in the cost of a barrel of oil on the international market.

Unless and until we employ different sources of renewable energy, we Bahamians, like the rest of the world, are stuck with fossil based energy such as coal mines. Climate change is critical to the well being of the Earth but until we usher in affordable alternative sources, we are like dogs barking at the Moon. Yes, the Prime Minister and his delegation to Cairo, Egypt, within the next few weeks will achieve much, but there is still much more to be done about inflation.

High energy prices will become an economic staple. In the foodstores one is already able to appreciate and see the inflationary rise in prices. Last week I was able to purchase a very small T bone steak for under $12.00 This weekend past the same sized steak was almost B$21.00 There were absolutely no chicken wings. Centre Pork Chops were nowhere in sight. There were no spinich; iceberg lettuce or fresh limes. The ones that were on display were dried like a prune.

It is feared by many that NIB rates will be increased due to several factors. The biggest one is that administrations have used NIB as an easy source of capital development funds for decades. Hence, today the funds are precarious in the extreme. The choice is simple. Raise the rates or go insolvent. There are no other viable alternatives in my considered view.

The Davis administration with Destiny. They can step up to the plate and postulate but they must not be detracted by foolishness. Again, I say that the optics could have been better, especially when the nation is on a roll. The PLP, in my view, is on the right track BUT marketing and perception may continue to be problematical.

Ortland H. Bodie, Jr.

Nassau,

October 5, 2022.