The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

PRIME Minister Perry Christie said yesterday that 236 out of 247 business applicants had been issued Certificates of Relief under the Government’s roadworks relief plan, adding that most were satisfied with the assistance provided.

During his concluding remarks to the Mid-Year Budget debate, Mr Christie said: “The Government’s roadwork assistance programme has offered tangible assistance to businesses impacted by the New Providence Road Improvement programme.

“The Ministry of Finance has processed 247 applications that have been submitted, and 236 of these have been issued Certificates of Relief. With these certificates, 159 of the applicants are accepting micro or government-guaranteed loans from the Bahamas Development Bank.

“There are 184 applicants enrolled in the plan to receive assistance from the Bahamas Electricity Corporation, 217 from the Bahamas Customs department, 215 from the Business License department, 41 from the real property tax department and 230 from the Bahamas Broadcasting Corporation.”

Mr Christie added: “In most cases the business owners and the representer have been very satisfied by the response of the Ministry and assistance provided.”

Assistance provided under the compensation plan includes the creation of a deferred payment plan for commercial customers of BEC impacted by the roadworks, and for customers in good standing a 10 per cent rebate on electricity bills for a period of 18 months. For operators whose businesses had closed down, the Government assumes 50 per cent of the outstanding bill if the client pays in full the other 50 per cent.

The BEC-related compensation is effectively costing the Corporation, nor the Government, no new money as it is being offset by the huge multi-million dollar receivables the former owes the latter.

The Government has also included in the compensation plan a 60-day deferment on Customs duties for a period of six months for businesses which bring in equipment or inventory for re-stocking, and the establishment of a Road Works Compensation Micro loan facility at the Bahamas Development Bank. The total size of the facility is $3 million, and the maximum size of any loan would be $10,000.